Aeromexico and their subsidiary Aerovias de Mexico have signed a letter of intent with Aimia to assume complete control of Club Premier, Mexico’s leading loyalty program. The transaction is part of Aeromexico’s Joint Plan of Reorganization under U.S. Bankruptcy.
On Tuesday (February 8, 2022), Aeromexico and their subsidiary Aerovias de Mexico announced the signing of a letter of intent with Aimia (Aimia Holdings UK Limited and Aimia Holdings UK II Limited) to take full control of Club Premier (PLM), Mexico’s leading loyalty program. The transaction is part of the airline’s Joint Plan of Reorganization confirmed by the U.S. Bankruptcy Court handling the case. The definitive agreement remains subject to certain conditions, such as the consummation of the effects of the restructuring and approval, which is expected to close by the end of July 2022.
In Monday’s announcement, Aeromexico’s CEO, Andres Conesa, said,
“Today's announcement is another very exciting day for the Aeromexico family and our Club Premier members. This is an important milestone in the Aeromexico restructuring process and marks a major step forward as we continue our complete transformation of the Aeromexico customer experience. We would like to thank Aimia for their collaboration and close partnership over the past decade. Since 2010, our joint vision has built Club Premier into one of the leading airline loyalty programs in Latin America. Aeromexico customers will benefit from a more relevant and agile program that represents the best option to reward loyalty both on the ground and in the air in Mexico and around the world across all destinations Aeromexico serves.”
Also commenting on the transaction, Aimia's CEO, Phil Mittleman, added,
“We want to thank our joint venture partner, Aeromexico, for their collaboration in achieving the best outcome for all stakeholders. Aeromexico has been a valued and trusted partner since 2010, and we applaud them, and the PLM leadership team for continuing to successfully navigate an unprecedented period in the travel industry. We wish Aeromexico continued success as they emerge from the bankruptcy process as a significantly strengthened airline, supported by its loyalty program. The substantial cash proceeds from this transaction, combined with our existing cash, investments, and significant operating and capital tax losses, will optimally position Aimia to continue to capitalize on the best investment opportunities globally, and deliver strong returns to our stakeholders.”
This year, Club Premier is celebrating 30 years as Aeromexico’s leading loyalty program. As Latin America’s first frequent flyer program, Club Premier has been an industry pioneer in making travel more rewarding. Club Premier has over five million members, who can earn points when flying with Aeromexico and 18 SkyTeam partners, as well as with over 50 travel and retail partners, including top hotel chains and car rental companies. Members can also earn points by using their Club Premier co-branded credit cards from bank partners and American Express and Santander. For existing Club Premier members, tier status, point balances, and existing benefits remain unchanged.