RE:Any thougts on that?renharvey wrote: https://affaires.lapresse.ca/economie/canada/201708/11/01-5123717-la-menace-dactions-collectives-plane-sur-aeroplan.php
One analyst... not much to say about his thoughts. There is currently no run to the bank, the risk of that is mitigated. I have said it before and I don't think anyone can dispute this fact: Points are not cash! Mbrs cannot simply decide to fly somewhere just because they are worried about their pts. Ppl don't just fly somewhere because they are affraid that the value of their pts will me deflated. It's really a crazy mind set. Members use their pts if they can whent hey had already planned a trip. Not the other way arround.
He is afriad that member would be like: "I'm afraid that the pts will some some of it's value... let me spend them to fly to [enter any destinatiuon then pay for hotel, food, and other travel expense] " That's just dumb.
There could be a drop is gross billing but for now there are no indication of that. AC is stuck with AIM for the next 3 years, creditor are not showing wigns of changing. Also the mbr who are missing points in order to spend them because they are maybe affraid of value decline will need to accumulate more in the coming year to redeem.
As for the class actions:
The expiry rule is that the you must accumulate at least 1 pts in 12 months. This is fair. I don't think that Aimia would have a hard time arguing that if the member does not accumulate at least 1 pts in 12 months that they are allowed to assume the member is incative/unegage and close the account. I believe they even send out a email to the members who's account expire. Even if they lose this one i can't imagine it would have a big financial impact. you are talking about members that did not accumulate 12 prior to closing the accounts. They probably have a low pts balance which Aimia would maybe have to reinstate? What are the members going to do with those pts? probably not enough to redeem for anything anyway.
The 2 other ones are fees collected by AC and airport... Some airlines don't charge them and Aimia doesn't charge the client. These fees are explained before you book something. Aimia has been transparent about these fees and the member can opt to not redeem based on the fees. Not totally sure why this is even a class action.