CIBC to par­tic­i­pate in Air Canada’s new loy­alty pro­gram

Stockwatch Daily - - FINANCE - Ms. Christina Kramer re­ports

FOL­LOW­ING THE close of Air Canada’s ac­qui­si­tion of the Aero­plan loy­alty busi­ness from Aimia Canada Inc., Cana­dian Im­pe­rial Bank of Com­merce con­firmed to­day that it will be of­fer­ing credit cards un­der Air Canada’ s new loy­alty pro­gram, which is ex­pected to launch in 2020, al­low­ing for a smooth tran­si­tion for CIBC’s Aero­plan card­hold­ers to the new pro­gram. Air Canada also con­firmed to­day that Aero­plan mem­bers’ miles will be hon­oured on a one-to-one ba­sis in Air Canada’s new loy­alty pro­gram.

For ad­di­tional de­tails on the agree­ment, please re­fer to the me­dia re­lease dated Nov. 26, 2018.

For CIBC clients who earn Aero­plan Miles, there is no im­me­di­ate change. They can con­tinue to earn and re­deem Aero­plan Miles as they do to­day. When Air Canada launches its new pro­gram, CIBC’s clients will en­joy the ben­e­fits through their CIBC credit card.

“We are ex­cited about the fu­ture op­por­tu­ni­ties for our clients as a re­sult of Air Canada’s suc­cess­ful pur­chase of the Aero­plan loy­alty busi­ness,” said Christina Kramer, se­nior ex­ec­u­tive vice-pres­i­dent and group head, per­sonal and small busi­ness bank­ing, CIBC. “Ad­ding Air Canada’s new pro­gram to our al­ready strong travel re­wards op­tions means greater choice, new fea­tures and more op­por­tu­nity to travel for Cana­di­ans.”

About Cana­dian Im­pe­rial Bank of Com­merce

CIBC is a lead­ing Cana­dian-based global fi­nan­cial in­sti­tu­tion with 11 mil­lion per­sonal bank­ing, busi­ness, pub­lic sec­tor and in­sti­tu­tional clients. Across per­sonal and small busi­ness bank­ing, com­mer­cial bank­ing and wealth man­age­ment, and cap­i­tal mar­kets busi­nesses, CIBC of­fers a full range of ad­vice, so­lu­tions and ser­vices through its lead­ing dig­i­tal bank­ing net­work and lo­ca­tions across Canada, in the United States and around the world.

Brent Stan­ley Belzberg, Nanci Ellen Cald­well, Michelle L Collins, Pa­trick Darold Daniel, Luc Des­jardins, Vic­tor Ge­orge Dodig, Linda S Hasen­fratz-Guelph, Kevin James Kelly, C E Larsen, Ni­cholas D’Orr Le Pan, John Paul Man­ley, Jane Les­lie Pev­erett, Katharine Berghuis Steven­son, Mar­tine Tur­cotte, Ron­ald Wil­liam Tysoe, Barry L Zubrow

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