Two Merchants From the last MD & A report (Nov 28, 2011):
The Company derives its revenue from several sources. However, the Company relies on a relationship with one party, Aeroplan Canada Inc., to derive the third party loyalty currency which accounts for 61% of the Company’s gross revenues during the quarter ended September 30, 2011 (2010 – 69% of gross revenues). Of the merchants who issue the third party currency, 2 merchants accounted for 43% of the Company’s gross revenues respectively (2010 – 42% of gross revenues
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2 merchants accounted for 43% of Futura's gross revenue. I don't know how it will work with car dealers but they do have good drawing power. Just a handful of dealership locations could match the 2 merchants in issuing Aeroplan miles. This is looking good.
We are all waiting for the financial impact of the dealerships. 4th quarter results will give us the first glimpse.