Air Miles Reward Program Moves to BMO

BMO, in its establishment located in the Old Montreal district.

Bank of Montreal (BMO) will sign a purchase agreement this Friday to acquire the Air Miles loyalty program business from LoyaltyOne.

Getting from a founding partner since 1992 to owner of the Air Miles reward program, nearly 10 million active Canadian member accounts would be under the bank's stewardship.

As such an acquisition is subject to court approval pursuant to the Companies' Creditors Arrangement Act (CCAA), proceedings have been commenced in the Ontario Superior Court of Justice for complete the purchase agreement between BMO and LoyaltyOne.

If the acquisition is successful, its head of North American Personal and Business Banking, Ernie Johannson, promises to “return ownership of Air Miles to the Canada”, a question of strengthening the offer for Canadian consumers and businesses.

The Air Miles loyalty program allows members to accumulate points by purchasing products from various commercial partners. . In exchange, rewards are offered to him and take the form of various products, trips or events.