Aimia Announces Class Action Settlement

MONTREAL, Aug. 31, 2018 /CNW/ – Aimia (TSX: AIM) today announced it has entered into an agreement to settle the class action relating to changes made to the mileage expiry and accumulation rules of the Aeroplan program announced on October 16, 2006.

Pursuant to the proposed terms of the settlement, Aimia has agreed to deposit a set amount of Aeroplan miles into the account of eligible members. The Company’s June 30, 2018 financial statements reflect the direct costs associated with the settlement. While the company believes its position was reasonable, reaching a settlement agreement is a positive resolution for members and stakeholders. The settlement remains subject to the approval of the Superior Court of Quebec.