Air Canada receives five bids for Aerogold credit card contract

Airline Industry Information, May 13, 2003

AIRLINE INDUSTRY INFORMATION-(C)1997-2003 M2 COMMUNICATIONS LTD

Air Canada has received five new bids for the Aerogold credit card contract tied to its Aeroplan loyalty points programme.

A judge overseeing Air Canada's financial restructuring previously agreed to allow alternative bids for the Aerogold agreement after receiving an offer for the contract, under which the airline sells frequent flyer miles to Canadian Imperial Bank of Commerce which then offers them to credit-card holders.

The court-appointed monitor Ernst & Young will provide an analysis of the bids for the court to consider, Reuters reported.

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