RE:Thinking out loudCigar quote;"Air Canada now is well positioned from a negotiation standpoint ". I have to wonder did AC have to cancel the CPSA 2020 in order to negotiate this type of ownership Transaction? Copied and Pasted from CPSA: Air Canada is not permitted during the term of the CPSA to create or participate in any other frequent flyer program or customer loyalty recognition program other than programs with certain Star Alliance partners who have agreed to give Aeroplan reciprocal access, and certain time-limited internal programs that are not denominated in a reward currency, as well as certain other programs operated by third parties if particular conditions are met. This exclusivity provision shall cease to apply if, in four consecutive quarters based on a quarterly, year-over-year comparison, a very significant decrease occurs in the total number of Aeroplan Miles accumulated in the Aeroplan Program, provided that such decrease is unrelated to material reductions in the seat capacity of Air Canada and Air Canada Express (the Aeroplan Material Change). Alternatively, Air Canada may terminate the CPSA upon the occurrence of an Aeroplan Material Change. Subject to the foregoing, the CPSA expires on June 29, 2020, subject to 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 the expiry of the initial term or the then current renewal term.