Aeroplan’s contract negotiations put the spotlight on Canadian Imperial Bank of Commerce, Toronto-Dominion Bank and Aimia Inc., the parent company of the rewards program.
But there’s another key player that’s tied to the drama by an all-important contract: Air Canada.
Currently, the airline is bound to Aeroplan by an agreement inked in 2004. However, its renewal comes due in 2020. That timing is especially important because the proposed contracts between CIBC, TD and Aimia are expected to run for 10 years, ending in 2023.