June 15, 2017
Shares of Aimia (AIM-T) traded as low as $1.49/share before closing at $1.53 on Wednesday. Air Canada (AC-T) released an announcement in mid May which stated they will be creating their own loyalty program and dropping the current partnership with Aeroplan rewards beginning in the year 2020. The Aeroplan program is owned and operated by Aimia. The decision for Air Canada to drop the Aeroplan rewards program has led to significant investor panic resulting in the shares plunging from over $9.00 to current levels not seen before.