Loyalty cards help drive business for many airlines.
Groupe Aeroplan Inc. says its profit was cut nearly in half in the third quarter, falling to $18.8-million from $35-million a year ago.
Aeroplan's profit amounted to 9 cents per share, down from 18 cents a share in the third quarter of 2008.
The Montreal-based company, which runs customer loyalty programs for Air Canada, Imperial Oil and other businesses, attributed the lower profit to a higher effective tax rate.
Aeroplan's third-quarter revenue slipped by a less dramatic 3.7 per cent, falling to $322.6-million from $335.0-million.
More to come