Mexican airline Grupo Aeromexico reviewing PLM Premier partnership with Aimia

Mexican airline Grupo Aeromexico reviewing PLM Premier partnership with Aimia
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MONTREAL — Grupo Aeromexico is reviewing its partnership with Aimia Inc., the latest problem for the loyalty analytics company which is facing a fight with a group of its shareholders.

The Mexican airline says it is “re-evaluating all aspects of its customer loyalty strategy.”

Aeromexico holds a 51.9 per cent stake in PLM Premier which runs Club Premier, the airline’s frequent flyer program. Aimia holds the remaining stake.

The airline says it’s looking to minimize reliance on PLM Premier going forward and ensure a seamless transition away from it as soon as possible.

Aimia says it was disappointed by Aeromexico’s comments and called PLM Premier a highly successful partnership.

It added that it will uphold its rights under the various contractual arrangements regarding its joint investment in PLM, which has a contract with Aeromexico that runs to 2030.

Last year, the Montreal-based company rejected a US$180-million offer by Aeromexio for its stake in PLM Premier.

The comments by the Mexican airline come as Aimia faces a fight over its annual meeting which was held last month. Aimia says the meeting was held by the book, however a group of dissident shareholders wants the company to redo the meeting because they say it was “plagued with irregularities.”

Mittleman Brothers LLC, Aimia’s largest shareholder with a 23.3 per cent stake, has also raised concerns about the way two new directors were appointed to the board less than a month after the annual meeting.

Companies in this story: (TSX:AIM)

The Canadian Press

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