1. Capital One Aspire™ Travel Platinum MasterCard
2. BMO Air Miles MasterCard
3. American Express Blue Sky
4. American Express Air Miles
Best rewards in Canada.
MONTREAL, Apr 26, 2010 (Canada NewsWire via COMTEX) --
Groupe Aeroplan Inc. (TSX: AER | PowerRating), a leading international loyalty management corporation headquartered in Canada and Aerovias de México, S.A. de C.V. (AeroMexico), the leading domestic airline in Mexico, today announced that they have entered into an agreement pursuant to which Groupe Aeroplan will acquire a minority position in AeroMexico's frequent flyer program, Club Premier. The transaction, which is subject to the completion of due diligence, the negotiation of definitive documentation as well as customary closing conditions, is expected to close in the third quarter of 2010. Groupe Aeroplan will initially invest US$22 million in Club Premier, and will account for the investment under the cost method, with an additional US$12 million to be invested if certain performance milestones are achieved within 18 months of closing. Upon conclusion of the second tranche, Groupe Aeroplan will account for its investment under the equity method.
"As Groupe Aeroplan's first investment in an international frequent flyer program, this transaction represents a significant strategic milestone; it marks the export of our company's very successful Aeroplan Canada business model," said Rupert Duchesne, President and CEO, Groupe Aeroplan. "Mexico is a high growth market and one of the target countries of our global expansion strategy. This investment not only provides us with a stepping stone into the very important Latin American market, but it also reinforces our position as a global leader in loyalty management, allowing us to participate in the transformation of a frequent flyer program into a standalone, broad-based coalition loyalty program. We are looking forward to working with AeroMexico and Club Premier's talented management teams," added Duchesne.
It can take thousands of credit card reward points to book one vacation. If something came up and you needed to cancel that trip, do you know if your points come with insurance?
Laura Kraft of Gilbert said she used her Capital One credit card points to book a vacation to Canada.
“Those points are hard earned – a dollar a point. There’s a lot invested in it,” said Laura.
Laura said she wanted assurance that her points would be protected.
Courtesy of abc15.com
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