Air Canada spun off its frequent flyer program and that new company developed several loyalty businesses. However Air Canada decided that its future is better with a new wholly owned loyalty program, to be launched in 2020 and in May announced plans to cut ties with Aimia.
Aimia’s stock dropped from about 9 before Air Canada’s announcement to less than 2 on Friday (3 years ago it was hovering around 19) — we may see a dampening of enthusiasm for spinning off frequent flyer programs for awhile.