MONTREAL -- Some analysts say Aimia Inc. played airlines like chess pieces to raise Air Canada's purchase price for the Aeroplan loyalty program, signing deals with rival carriers to force the buyer's hand, and the endgame is likely to benefit consumers.
An Air Canada-led consortium reached a tentative deal Tuesday to acquire Aeroplan for $450 million in cash, after Aimia dismissed an earlier offer as too low.
The loyalty points company signed Aeroplan partnership deals with Air Transat, Flair Airlines and Porter Airlines while juggling negotiations with Air Canada earlier this month.
Consumer affairs expert Tony Chapman believes the agreements were part of a negotiation ploy to ratchet up pressure on Air Canada to raise its initial bid from $250 million.
He says bringing the loyalty program back in house 13 years after it was spun off from Air Canada means members can expect more travel deals and redemption options.
AltaCorp Capital analyst Chris Murray says Aimia's discussions with the Oneworld airline alliance also leveraged the company's position.
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