Aimia Inc T.AIM

RE:RE:RE:RE:RE:What does AC want out of this mess it made for AIM

[murrarms]

murrarms wrote:

Under the Aeroplan CPSA, Air Canada retained responsibility for the miles to be redeemed from accumulations up to December 31, 2001. Aeroplan LP assumed responsibility for all miles issued beginning January 1, 2002. With the assistance of independent experts, management has re-estimated the number of miles expected to be redeemed. Management now expects that 112 billion miles will be redeemed compared to the original estimate of 103 billion. Effective October 13, 2006, by amendment, Air Canada has assumed responsibility for the redemption of up to 112 billion miles and, as a result, recorded a special charge of $102 million for the incremental 9 billion miles. For further details, refer to Note 20 of Air Canada’s combined consolidated financial statements for the year endtged December 31, 2006, which Note 20 is incorporated herein by reference. Air Canada’s combined consolidated financial statements for the year ended December 31, 2006 are available on SEDAR at www.sedar.com . Subject to the foregoing, the Aeroplan CPSA expires on June 29, 2020 with four automatic renewals of five years each, unless either party provides written notice to the other of its intention not to renew at least 12 months prior to theexpiry of the initial term or the then current renewal term. Either party is entitled to terminate the Aeroplan CPSA upon the occurrence of an event of default (as determined in accordance with the terms of the Aeroplan CPSA).

 

Link; https://www.coursehero.com/file/pdl2l6/Under-the-Aeroplan-CPSA-Air-Canada-retained-responsibility-for-the-miles-to-be/

Obviously Calin AC CEO is saying he wants to save 2 billion over 15 years. So I believe Calin is saying he wants. 2 billion from AIM over 15 years or he will have to start a loyalty program. Will AIM go for it? What will the DIV be giving up 2billion? You do the math.