|Bid||3.1900 x 0|
|Ask||3.2400 x 0|
|Day's Range||3.1600 - 3.2700|
|52 Week Range||1.6000 - 4.0200|
|Beta (5Y Monthly)||1.99|
|PE Ratio (TTM)||5.97|
|Earnings Date||May 13, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Jun 14, 2017|
|1y Target Est||6.25|
TORONTO , June 30, 2020 /CNW Telbec/ - Aimia Inc. (AIM.TO) today announced that, in connection with its previously announced normal course issuer bid ("NCIB") to purchase up to 6,980,010 of its common shares ("Shares"), it has entered into an automatic share purchase plan ("ASPP") with a designated broker. The ASPP allows for the purchase of Shares under the NCIB at any time, including when Aimia would ordinarily not be permitted to purchase Shares due to regulatory restrictions and customary self-imposed blackout restrictions. The ASPP provides a set of standard instructions to the designated broker to make purchases under the NCIB in accordance with the limits and other terms set out in the ASPP, subject to compliance with applicable securities laws.
(Bloomberg Opinion) -- What could possibly attract Bain Capital about an airline that hardly ever generates cash? Loyalty is almost certain to be the answer.Administrators for Virgin Australia Holdings Ltd. at Deloitte agreed to sell the second-ranked Australian airline to the private equity firm after it collapsed in April owing A$6.8 billion ($4.7 billion). In a sign of what a difficult path lies ahead of Bain, interest from 20 parties was ultimately whittled down to just two final bidders. Airlines, with their vast capital expenditures, weak competitive positions, and already-heavy debt loads, aren’t the most obvious places for private equity to invest. Most firms look for businesses that can consistently throw off cash before returning to market at an enhanced valuation a few years later.Virgin hardly fits that bill: The company has posted positive annual free cash flow just three times in two decades. It’s hard to see how a few years of business in the time of coronavirus is going to enhance its market value much. That’s particularly the case given that Qantas Airways Ltd., which spent much of the past decade demonstrating the power of its superior market share, has just strengthened its balance sheet through a capital raising.There is, however, one part of Virgin that’s perennially attractive to private equity — its Velocity frequent-flier program. It’s not unusual for airlines to be essentially loyalty programs with wings — Qantas’s is often the most profitable part of the business, and Air Canada’s spun-off program Aimia Inc. mostly traded at a higher multiple than its former parent until it was bought back a few years ago. Velocity has already been a winner for private equity. Affinity Equity Partners bought a 35% stake in the program in 2014 and sold it back last year at a A$2 billion valuation. That’s more than twice what it originally paid, and far more than the A$1.2 billion or so that the entire airline was worth before coronavirus struck, not to mention the zero value now put on Virgin Australia’s equity. The biggest challenge for Bain will be what to do with the main bit of the business — but that’s not an impossible task. While details haven’t been released of what a post-insolvency Virgin will look like, you’d expect the administration process to bring an end to many of the asset impairments and interest expenses that have weighed so heavily on earnings in recent years, giving an opportunity to spruce it up for selling back to the market. Australia’s stock investors are famous for buying dog-eared companies from private equity and repenting at their leisure.Bain has promised to “invest in and see closer integration” of the loyalty program and the core flying business, though it’s not clear that this amounts to a promise never to separate the two. Don’t be surprised if 18 months from now the next big IPO in Sydney is a seemingly-rejuvenated Virgin Australia, shorn of its lucrative loyalty program. Just don’t make the mistake of buying into it.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.David Fickling is a Bloomberg Opinion columnist covering commodities, as well as industrial and consumer companies. He has been a reporter for Bloomberg News, Dow Jones, the Wall Street Journal, the Financial Times and the Guardian.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Toronto, Ontario--(Newsfile Corp. - June 22, 2020) - Mittleman Investment Management, LLC ("Mittleman") will be filing an early warning report pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("NI 62-103") in respect of the common shares ("Common Shares") of Aimia Inc. (the "Issuer").On June 19, 2020, the Issuer successfully closed its previously announced acquisition of Mittleman Brothers, LLC ("MB"), the parent company of Mittleman ...
MICHAEL LEHMANN NAMED PRESIDENT OF AIMIA, INC. TORONTO , June 19, 2020 /CNW Telbec/ - Aimia Inc. (AIM.TO), an investment holding company, announced today that its Board of Directors has appointed Michael Lehmann as the President of Aimia, Inc., effective today June 19 , 2020. Mr. Lehmann will remain on the Board of Directors pursuant to his election at the recent annual meeting of the shareholders of Aimia Inc., and will report to Chief Executive Officer Phil Mittleman .
TORONTO , June 19, 2020 /CNW Telbec/ - Aimia Inc. (AIM.TO), an investment holding company, announced that it has successfully closed the previously announced acquisition of Mittleman Brothers LLC, the parent company of Mittleman Investment Management, LLC ("MIM"), a well-respected value investment adviser that provides discretionary portfolio management to institutional investors and high-net-worth individuals. With the close of this transaction, Phil Mittleman has been appointed permanent Chief Executive Officer of Aimia, and Chris Mittleman will serve as the Chief Investment Officer and a member of the board.
The application related to the proposed combination of Aimia's Loyalty Solutions business, which includes Intelligent Shopper Solutions (ISS) and the Air Miles Middle East program, with a subsidiary of Kognitiv Corporation ("Kognitiv"), an innovator in loyalty peer-to-peer trading and collaborative commerce, which was announced on April 29 , 2020. The application alleged that the transaction would breach certain non-competition and confidentiality provisions entered into by Aimia in connection with the sale of Aeroplan in November 2018 .
American Airlines plans to pledge the AAdvantage program as collateral for a new secured loan from the government. But the program probably isn't worth anything close to its appraised value.
TORONTO , June 9, 2020 /CNW Telbec/ - Aimia Inc. (AIM.TO) announces that it has successfully completed the sale of its entire diversified portfolio of publicly-traded equity securities, resulting in a substantial gain for stakeholders. On April 2, 2020 , Aimia announced the formation of an ad hoc investment committee comprised of members of the reconstituted Board and made amendments to its investment policy, as approved by the corporation's newly reconstituted Board, to permit the company to invest in a diversified portfolio of public company securities, fixed income securities and hybrid securities. Following this announcement, Aimia invested approximately $21 million in a diversified portfolio of public company securities as a result of the market dislocation caused by Covid-19.
TORONTO , June 8, 2020 /CNW/ - Aimia Inc. (AIM.TO) announces that it has received approval from the Toronto Stock Exchange (the TSX) respecting the establishment of a normal course issuer bid (NCIB). Aimia has received approval to purchase for cancellation up to 6,980,010 of its common shares, or 10% of the public float of 69,800,106 common shares as at May 31, 2020 , through the facilities of the TSX and through alternative trading systems (such as Alpha ATS), or by exempt offers or block purchases, during the period from June 10, 2020 to no later than June 9, 2021 . Purchases made on the open market through the facilities of the TSX and alternative trading systems will be at the prevailing market price at the time of acquisition.
The application relates to the proposed combination of Aimia's Loyalty Solutions business, which includes Intelligent Shopper Solutions (ISS) and the Air Miles Middle East program, with a subsidiary of Kognitiv, a Waterloo -based B2B technology company, which was announced on April 29 , 2020. The application alleges that the transaction will result in breaches of certain non-competition and confidentiality provisions entered into by Aimia in connection with the sale of Aeroplan in November 2018 .
TORONTO , May 13, 2020 /CNW/ - Aimia Inc. (AIM.TO) today reported its financial results for the quarter ended March 31, 2020 . The parties also agreed to cause PLM to fund, using cash on its own balance sheet, US$50 million to Aeromexico in the form of an intercompany loan promptly following the execution of the letter of intent, with an additional US$50 million of additional liquidity through pre-purchases of award tickets upon execution of the amendments to the CPSA.
Aimia Inc. (TSX: AIM) today announced it has invested approximately $75 million in Clear Media Limited (HK: 100), one of the largest outdoor advertising firms in China, representing over a 10% equity stake in the company.
TORONTO , May 12, 2020 /CNW Telbec/ - Aimia Inc. (AIM.TO) today announced it has signed a binding Letter of Intent with Grupo Aeromexico S.A.B. de C.V. ("Aeromexico") (AEROMEX.MX) reflecting the parties' agreement in principle to negotiate certain changes to the Shareholders Agreement between them and the commercial agreement (CPSA) between Aeromexico and PLM Premier, S.A.P.I. (PLM), the operator of the Club Premier loyalty program. As part of the proposed transactions, PLM will, from cash on its balance sheet, provide financial support to Aeromexico of US$100 million in the form of a US$50 million loan under the existing intercompany loan facility and through pre-purchases of award tickets of US$50 million .
Aimia Inc. (TSX: AIM) and Kognitiv Corporation announce that they have entered into an agreement to merge Aimia's Loyalty Solutions business with Kognitiv Corporation. The merger creates a new and transformative technology and loyalty solutions company that redefines how loyalty programs, merchants, and consumer brands interact to enrich member engagement, enhance consumer loyalty and deliver stronger yields to the businesses it serves.
Aimia Inc. (TSX: AIM), which owns a 48.9% equity stake in PLM Premier, S.A.P.I. de C.V (PLM), owner and operator of Club Premier, the leading coalition program in Mexico, announced today that following the unprecedented impact on the airline industry and nationwide lockdown to slow the spread of COVID-19 in Mexico, PLM is also expected to be negatively impacted.