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Air Miles Owner, Loyalty Ventures, Prepares Bankuptcy Filing

Air Miles Owner, Loyalty Ventures, Prepares Bankuptcy Filing

By Kate Musgrove

Loyalty Ventures, the company that owns the Air Miles Reward program, is preparing a bankruptcy filing, according to Bloomberg News.

The bankruptcy filing could happen within days, although the company is still negotiating with creditors and looking for further opportunities to restructure.

If you currently have Air Miles rewards accumulated, you may want to redeem them. If you don't have a lot of points banked, there are lower-cost options like gift cards to Uber Eats and Starbucks -- check this list for a look at your options.

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  • bylo
    • No wonder BMO stepped in and bailed out AMs.

      Why Air Miles needs more than just a new owner to appeal to customers
      The problem, according to some rewards industry watchers, is that it doesn't have lucrative-enough business partners actually offering Air Miles to make the program worth it for those millions of account holders...

      When Sobeys and Safeway pulled out of the program, it lost those fees from one of its most prominent national partners. Ten per cent of Air Miles' parent company's revenue evaporated, according to court filings...

      One court document states that in 2022, the Bank of Montreal actually gave out 50 per cent of the total Air Miles handed out to program members...
    • Report Post
  • doodle07
    • Tried to redeem my dream miles and get hit with a notice after checkout that there is some "security concern" and therefore my redemption is denied.
      CS rep claimed there wasn't anything on my account that should cause this but after placing me on hold claimed the security dept "changed something in the background" that should fix it within 24hrs (narrator voice: It didn't).

      Anyone else experiencing this? I have no trouble logging in or any other trouble except when checking out.
    • Report Post
  • BaileySyd
    • Might the Aeroplan discussion be taken to an Aeroplan thread?
    • Report Post
  • Kiraly
    • I used to be able to get direct flights to the EU city of my choice as long as I was flexible about the dates. Now I can only find multi-stop flights that can take up to 24 hours to complete. And even then I've yet to see any as cheap as 120k return.
      Try booking a pair of one-way flights instead of a single return flight. The last two times I booked to Europe that ended up needing far fewer points. Got YVR-BUD for 40k out, and 39k in, so 79k total. The asking amount for a return ticket on the exact same flights was over 90k IIRC.
    • Report Post
  • Kiraly
    • those 240k are seats that you would never have even seen in the old program. since the new program allows access to all seats not just the very limited few the old had. if you want to see the fixed priced tickets look at any of the many more partner airlines they now have. you can still fly rt europe in biz for 120k points
      Aeroplan certainly doesn't allow access to "all seats". I was looking for a flight to Europe next month on a particular day, and Air Canada was telling me there were no seats available to be booked with Aeroplan points. There were plenty if I was willing to pay cash though. Luckily for me, all I had to do was wait for two days, and Aeroplan booking availability for that day magically appeared.
    • Report Post
  • BaileySyd
    • I only use AM for a tix between YQB/YYZ many years (7yrs?) ago.
      Since then I've found that booking flights with AM is not very competitive in term of price and flexibility.

      I have since switched to cash miles as I find it a lot more flexible and simpler.
      Being captive by dream miles can be a nightmare.
      This has been my experience as well. Finding decent AM flights under the new program is near impossible. So I cashed my Dream Miles in for some product that I hope to sell.
    • Report Post
  • LOL808
    • is the info in PoT outdated? It still shows the redeemption level by zone. Oversea ticket price went up a lot since the pandemic, so I think it's fair if the reward program adjusts accordingly.
      https://princeoftravel.com/points-programs/aeroplan/

      I checked air miles and apparently they had switched to market price for a while :(
      I only use AM for a tix between YQB/YYZ many years (7yrs?) ago.
      Since then I've found that booking flights with AM is not very competitive in term of price and flexibility.

      I have since switched to cash miles as I find it a lot more flexible and simpler.
      Being captive by dream miles can be a nightmare.
    • Report Post
  • 82
    • is the info in PoT outdated? It still shows the redeemption level by zone. Oversea ticket price went up a lot since the pandemic, so I think it's fair if the reward program adjusts accordingly.
      https://princeoftravel.com/points-programs/aeroplan/

      I checked air miles and apparently they had switched to market price for a while :(
      Before the "improved" aeroplan, I was able to get flight between YVR and YQB for fixed 25k points.
      Not anymore.
      Now, the points required is adjusted based on "market fare".
    • Report Post
  • bylo
    • those 240k are seats that you would never have even seen in the old program. since the new program allows access to all seats not just the very limited few the old had. if you want to see the fixed priced tickets look at any of the many more partner airlines they now have. you can still fly rt europe in biz for 120k points
      I used to be able to get direct flights to the EU city of my choice as long as I was flexible about the dates. Now I can only find multi-stop flights that can take up to 24 hours to complete. And even then I've yet to see any as cheap as 120k return.

      What's the point of flying in the front of the bus in "lie flat seats" across the Atlantic, etc. if you arrive worn out from a full day of travelling? (Never mind the several hours of time it takes to get to the airport and wait before the flight, etc.?)

      Perhaps this works for you. Perhaps you fly enough to have status, etc. But for me, it makes my AP points next to useless.
    • Report Post
  • bylo
    • Before the "improved" aeroplan, I was able to get flight between YVR and YQB for fixed 25k points.
      Not anymore.
      Now, the points required is adjusted based on "market fare".
      "Market fares" is AC's euphemism for "Your points have been devalued."
    • Report Post
  • Aselwyn1
    • If you're trying to get rewards airfare, which was the original premise of Aeroplan, then the devaluation is more than substantial. I recall when one could get Europe return in Business for 80k miles. That may have gone up to 120k return before the pandemic. I tried to book flights a week ago with flexible dates in June yet the "cheapest" seats I could find were more like 240k miles -- each way. So if 80 to 480 isn't devaluation, I don't know what is.
      those 240k are seats that you would never have even seen in the old program. since the new program allows access to all seats not just the very limited few the old had. if you want to see the fixed priced tickets look at any of the many more partner airlines they now have. you can still fly rt europe in biz for 120k points
    • Report Post
  • LOL808
    • If you're trying to get rewards airfare, which was the original premise of Aeroplan, then the devaluation is more than substantial. I recall when one could get Europe return in Business for 80k miles. That may have gone up to 120k return before the pandemic. I tried to book flights a week ago with flexible dates in June yet the "cheapest" seats I could find were more like 240k miles -- each way. So if 80 to 480 isn't devaluation, I don't know what is.
      Before the "improved" aeroplan, I was able to get flight between YVR and YQB for fixed 25k points.
      Not anymore.
      Now, the points required is adjusted based on "market fare".
    • Report Post
  • bylo
    • So what was the bottom line -- approximately how much Aeroplan miles got devalued after AC bought it?
      If you're trying to get rewards airfare, which was the original premise of Aeroplan, then the devaluation is more than substantial. I recall when one could get Europe return in Business for 80k miles. That may have gone up to 120k return before the pandemic. I tried to book flights a week ago with flexible dates in June yet the "cheapest" seats I could find were more like 240k miles -- each way. So if 80 to 480 isn't devaluation, I don't know what is.
    • Report Post
  • ssiu
    • +1

      BMO is putting $160M on the table because they realize the potential profit in AMs. They also have a credit card operation to protect. They have to realize that people are already looking to bail on AMs. If they devalue too quickly and/or too much they'll just cause the equivalent of a run on the bank [of undeemed AMs.] If that happens then their $160M investment will get devalued even faster than any devaluation of AMs. So while I expect devaluation, I don't expect it to happen very soon.

      Consider too the precedent with AC's purchase of AP: Air Canada moves ahead with plan to take over Aeroplan for $450MThat's a lot of money. Banks wouldn't spend it if they didn't expect a massive payback.

      Then again:We all know how well Cal kept that promise.
      So what was the bottom line -- approximately how much Aeroplan miles got devalued after AC bought it?

      (I usually use my AM at Shell/Metro only when it gives some BAM back, but yes I worry about devaluation and think I should spend them ASAP ...)
    • Report Post
  • Squirrel99
    • Also had something ship today
    • Report Post
  • BaileySyd
    • For merchandise or gift cards? Did you get a shipping email?
      Yes, I received shipping emails. They don't say which product was shipped.
    • Report Post
  • LOL808
    • Two of my redemptions shipped out today via Canada Post.
      Seems store redemption worked this morning.
      Managed to redeem $50 out of my cash miles.

      Still have ~70 cash miles and 45 dream miles.
      Now just wait and see. 😐
    • Report Post
  • coriolis
    • Same, both my dream miles merchandise (Dyson hair dryer and hair straightener) shipped.
    • Report Post
  • Arrow
    • Two of my redemptions shipped out today via Canada Post.
      For merchandise or gift cards? Did you get a shipping email?
    • Report Post
  • BaileySyd
    • Two of my redemptions shipped out today via Canada Post.
    • Report Post
  • ricedion
    • Yes, this is the message I got with successful unlink:


      19007648-7B93-44A9-974C-54F62E8D0075.jpeg


      Are you sure you didn’t unlink already, after the 150 BAMs from the promo posted?
      thank you. I do not remember. but I will leave this as is now.
    • Report Post
  • EddySaver
    • I clearly written down which airmiles card linked with which credit card. But when I tried to unlink, it keeps telling me "Your details were not found on our database".

      anyone else able to successfully unlink theirs?
      Yes, this is the message I got with successful unlink:

      19007648-7B93-44A9-974C-54F62E8D0075.jpeg

      Are you sure you didn’t unlink already, after the 150 BAMs from the promo posted?
    • Report Post
  • ricedion
    • I think it’s more of a privacy concern, now that BMO is buying Air Miles, there will be an extra set (BMO) of eyes and hands on your data. When you link your MC, you agree to this: https://airmilescardlink.ca/#enrolFormPosition
      I clearly written down which airmiles card linked with which credit card. But when I tried to unlink, it keeps telling me "Your details were not found on our database".

      anyone else able to successfully unlink theirs?
    • Report Post
  • martydxb
    • Thanks for the detail. I fixed my issue after re-link my AM user ID instead of AM number. I did updated my AM login using user ID since last Nov.
      I have another question.
      How many time I can redeem 95 to get the 10 bonus per day for Go+ members? The T&C only says max 10 bonus per transaction. Base on the T&C, max I can redeem six times per day. It is the daily limit of $60 AM redemption. Am I correct? Thanks.
      Not sure, but sounds like you've got an idea about it.

      I dont have Shell near me so that's why I piled up a bunch of points. Just finished using it up on eVouchers now and one tank of gas when I went out on the weekend.
    • Report Post
  • PointsHubby
    • I agree. Any Travel miles program that exists essentially is better when used directly for seats. However, I only have 1K points so I'm limited in what I can use it on unfortunately. Definitely not enough for air travel. It's sad to see cause most of my 20s I traveled all over Canada with AM. That was in its hey day. You could get so many AM from Safeway & Shell and other random retailers. Now you can't find it anywhere.

      Hence why I dropped my card, though hindsight I should have just product switched to a no-fee AM card to keep my credit card history. Ah well, c'est la vie!
      Ya at 1 K in points, your situation is vastly different from the RFDer I replied to who has 20 K.
    • Report Post
  • Jayjay78
    • Travel is where it’s at when it comes to Dream Miles !!!

      Merchandise will never give you as great a reward.
      I agree. Any Travel miles program that exists essentially is better when used directly for seats. However, I only have 1K points so I'm limited in what I can use it on unfortunately. Definitely not enough for air travel. It's sad to see cause most of my 20s I traveled all over Canada with AM. That was in its hey day. You could get so many AM from Safeway & Shell and other random retailers. Now you can't find it anywhere.

      Hence why I dropped my card, though hindsight I should have just product switched to a no-fee AM card to keep my credit card history. Ah well, c'est la vie!
    • Report Post
  • PointsHubby
    • Having a difficult time finding what to use my 20k Dream Miles on... everything seems like junk to me.. and overpriced vs Cash Miles.
      Travel is where it’s at when it comes to Dream Miles !!!

      Merchandise will never give you as great a reward.
    • Report Post
  • Electrah
    • Having a difficult time finding what to use my 20k Dream Miles on... everything seems like junk to me.. and overpriced vs Cash Miles.
    • Report Post
  • bylo
    • BMO cannot make any changes to the program until the deal is closed and it will be in 2 months they hope. However, the current owner can make changes for BMO if there is any condition required for the acquisition, but need to be approved by the creditor and/or court since it is under bankruptcy protection now. I believe they will have notification to members, but very short time if there is any changes to the program. Besides, they probably will limit the redemption before the change goes into effect. Devaluation is not the only option. Even there are many ways to devaluate, so it is very hard to say what will happen next.
      +1

      BMO is putting $160M on the table because they realize the potential profit in AMs. They also have a credit card operation to protect. They have to realize that people are already looking to bail on AMs. If they devalue too quickly and/or too much they'll just cause the equivalent of a run on the bank [of undeemed AMs.] If that happens then their $160M investment will get devalued even faster than any devaluation of AMs. So while I expect devaluation, I don't expect it to happen very soon.

      Consider too the precedent with AC's purchase of AP: Air Canada moves ahead with plan to take over Aeroplan for $450M
      Air Canada has signed a definitive agreement to buy the Aeroplan loyalty program from Aimia Inc. for $450 million in cash... Air Canada will also assume $1.9 billion of Aeroplan miles liability... TD and CIBC will pay Air Canada $822 million — $622 million and $200 million, respectively — on top of an undisclosed payment from Visa.

      The two banks will also fork over another $400 million in pre-payments — $308 million and $92 million, respectively — to be applied toward future monthly payments for Aeroplan miles.

      The total of about $1.2 billion from TD and CIBC helps offset the hefty points liability...

      Air Canada said it is still in talks with American Express, which also issues Aeroplan co-branded cards, to secure its continued participation.
      That's a lot of money. Banks wouldn't spend it if they didn't expect a massive payback.

      Then again:
      Air Canada chief executive Calin Rovinescu confirmed the company's new loyalty program will launch in 2020, "safeguarding all Aeroplan Miles" for its roughly five million members.
      We all know how well Cal kept that promise.
    • Report Post
  • lcmt
    • BMO cannot make any changes to the program until the deal is closed and it will be in 2 months they hope. However, the current owner can make changes for BMO if there is any condition required for the acquisition, but need to be approved by the creditor and/or court since it is under bankruptcy protection now. I believe they will have notification to members, but very short time if there is any changes to the program. Besides, they probably will limit the redemption before the change goes into effect. Devaluation is not the only option. Even there are many ways to devaluate, so it is very hard to say what will happen next.
      In these purchase agreement / bankruptcy cases, is there a minimum amount of notice BMO needs to give before devaluing cash miles? Or is public opinion the only factor for BMO?
    • Report Post
  • PointsHubby
    • Thanks for the detail. I fixed my issue after re-link my AM user ID instead of AM number. I did updated my AM login using user ID since last Nov.
      I have another question.

      How many time I can redeem 95 to get the 10 bonus per day for Go+ members? The T&C only says max 10 bonus per transaction. Base on the T&C, max I can redeem six times per day. It is the daily limit of $60 AM redemption. Am I correct? Thanks.
      I recently answered this for someone else :

      https://forums.redflagdeals.com/air-mil ... #p37381348
    • Report Post
  • HappyValley1
    • Earlier (years ago?) I setup the Shell app and linked my AirMiles. Now all I have to do is, open the app in the station, in the middle at the bottom of the screen, click pay.
      The next screen asks you to choose pay inside or pay at the pump, choose pump.
      Enter the pump number in.
      Then it asks you to choose several options like payment type, and at the bottom of the list (of about 4 options), it shows the option to use your cash miles.
      It wont automatically use them, you have to click it, then the next screen lets you choose how much you are willing to redeem (up to $60).
      Then proceed as normal till it tells you to start pumping.

      Once done, look at the receipt, it should confirm that miles were used and show the credit on the receipt. You should see your credit card just charged for the balance.

      Hope that helps, and I use Android, not that it should matter.
      Thanks for the detail. I fixed my issue after re-link my AM user ID instead of AM number. I did updated my AM login using user ID since last Nov.
      I have another question.
      How many time I can redeem 95 to get the 10 bonus per day for Go+ members? The T&C only says max 10 bonus per transaction. Base on the T&C, max I can redeem six times per day. It is the daily limit of $60 AM redemption. Am I correct? Thanks.
    • Report Post
  • ODoyleRulz
    • Thanks for the post, redeemed my miles. Haven't been earning many since LCBO dropped them. I don't trust BMO to handle this well.
    • Report Post
  • EddySaver
    • In these purchase agreement / bankruptcy cases, is there a minimum amount of notice BMO needs to give before devaluing cash miles? Or is public opinion the only factor for BMO?
    • Report Post
  • Sprite_TM
    • cleared some air miles today at shell before bmo devalues it
    • Report Post
  • bylo
    • They also have an app that will bother you several times a week to do surveys!
      If you don't use the app (I don't) they'll nag you daily by email.
      One of their other drawbacks is you can only redeem some of the rewards once every three months!
      Yes, I forgot about that. It's not an issue with keeping a loyalty account alive because you only need to add points to it once a year or so.
    • Report Post
  • scarlemsfinest
    • Interesting perspective

      NOTE - for anyone considering eRewards
      They are great for other programs offering surveys for many Programs that don’t (or didn’t) have a lot of ways to earn points to keep accounts active … such as Airlines & Hotels
      Not so great for Airmiles
      Cuz as @bylo pointed out in a previous post (Reply # 437) … it’s not a direct process of do a survey … and see airmiles immediately POSTED like it is for Rewarding Your Opinions
      eRewards is a cumulative situation …
      Where you earn points … but they accumulate
      You can only transfer then over to whichever Reward Program you choose … ONCE you’ve met significant points balances to do so
      I'll add that one of the good things with eRewards is that they always have surveys (even during my heavy survey days back in the day, there were always surveys available). They also have an app that will bother you several times a week to do surveys! One of their other drawbacks is you can only redeem some of the rewards once every three months!
    • Report Post
  • martydxb
    • How to redeem AM cash on shell app for gas? I used to see the option when I pay using the shell app at the pump. But I don’t see that option anymore. Can anyone share the idea? Thanks.
      Earlier (years ago?) I setup the Shell app and linked my AirMiles. Now all I have to do is, open the app in the station, in the middle at the bottom of the screen, click pay.
      The next screen asks you to choose pay inside or pay at the pump, choose pump.
      Enter the pump number in.
      Then it asks you to choose several options like payment type, and at the bottom of the list (of about 4 options), it shows the option to use your cash miles.
      It wont automatically use them, you have to click it, then the next screen lets you choose how much you are willing to redeem (up to $60).
      Then proceed as normal till it tells you to start pumping.

      Once done, look at the receipt, it should confirm that miles were used and show the credit on the receipt. You should see your credit card just charged for the balance.

      Hope that helps, and I use Android, not that it should matter.
    • Report Post
  • PointsHubby
    • You can still join on the US site if you're a member of one of their loyalty partners, e.g. AAdvantage, United M+, Radisson et al. [They may even accept Aeroplan since you can redeem $eR for AP miles.]

      So here's something for those determined to join to try...
      1. Join one of their partners. That's free.
      2. Set your VPN to US.
      3. Go to https://www.e-rewards.com/a-organic-enrolment
      4. Join eRewards US, linking to the partner you joined.
      ...

      eRewards uses geo-location to prevent doing their surverys when you're outside your home country, which in the above case is US. Where it gets dicey is how to transfer an existing US account to Canada.

      Anyway, I'm already a member so have no need to pursue this any further. Good luck to those who do.
      Interesting perspective

      NOTE - for anyone considering eRewards
      They are great for other programs offering surveys for many Programs that don’t (or didn’t) have a lot of ways to earn points to keep accounts active … such as Airlines & Hotels
      Not so great for Airmiles
      Cuz as @bylo pointed out in a previous post (Reply # 437) … it’s not a direct process of do a survey … and see airmiles immediately POSTED like it is for Rewarding Your Opinions
      eRewards is a cumulative situation …
      Where you earn points … but they accumulate
      You can only transfer then over to whichever Reward Program you choose … ONCE you’ve met significant points balances to do so
    • Report Post
  • MissDyan
    • Thanks a lot!!

      Found it on AM Offer page, joined and filled out a few surveys, AM post 3-5 days. Good enough to zero out the balance below 95AM.
      Excellent! Usually it’s immediately added to your account.
    • Report Post