Aimia to Sell Stake in BIGLIFE Program Back to AirAsia

In Canada, investment holding company Aimia is to sell its 20% stake in AirAsia's loyalty marketing platform BIGLIFE for $31.2m (US$25m). The proposed deal will give AirAsia full control of the BIGLIFE scheme, which has more than 25 million members.

Aimia (formerly known as Groupe Aeroplan) previously launched and managed loyalty programs, and helped clients generate, collect and analyze customer data through those programs. In 2018, it sold its Nectar loyalty scheme and related assets to supermarket giant J Sainsbury plc; and then its Aeroplan business to a consortium led by the business's original owner Air Canada. A year later, Aimia sold its stake in purchase intelligence platform Cardlytics, before transforming from a loyalty solutions business to an investment vehicle.

Aimia still owns stakes in the Club Premier loyalty program in Mexico, which operates the Aeromexico Frequent Flyer program. The firm has now agreed to sell its 20% stake in AirAsia's BIGLIFE, operator of the BIG Rewards program, which offers members lifestyle rewards beyond flights. The deal will be settled by issuing 85.86 million new AirAsia shares, equivalent to a 2.2% stake, to Aimia.

AirAsia's CEO, Tony Fernandes (pictured), comments: 'We appreciate the partnership of Aimia and their support in becoming a shareholder in AirAsia. What started out as a standard airline rewards programme has now expanded to offer a much broader digital currency for consumers to earn and redeem BIG Points across a broad ecosystem of travel and lifestyle products, beyond the AirAsia platforms. With the impending full ownership of BIGLIFE and as AirAsia's digital transformation continues, we look forward to taking BIGLIFE to new heights.'

Web sites: www.aimia.com and www.airasia.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.