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Friday,  July 19, 2024 6:05 PM 

Aimia releases 2014 second quarter results

Aimia releases 2014 second quarter results

In Aimia Inc.’s 2014 second quarter report, the travel rewards company posted total revenue of $555.4 million, up from minus $123 million in the same period for 2013.

Aimia, which owns and operates several loyalty programs including Aeroplan, also posted a net loss of $18.8 million for this year’s second quarter, a significant change from last year’s net loss figure of $415.2 million. The company’s gross billings for this year’s second quarter rang in at $648.1 million, compared to $570.6 million in 2013.

The numbers for both revenue and net loss factored in the company’s current ‘breakage’ estimates, pertaining to the amount of rewards that are not redeemed by customers.

The company announced that its Aeroplan membership is up four per cent to five million members.