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Huge TD Bank charge tied to Air Canada’s Aeroplan

Discussion in 'questions. answers. conversations.' started by Banker, Dec 5, 2019.

  1. Banker

    Banker Reader

    Take a look at TD bank’s Q4/19 results that were released this morning . There is a pre tax charge related to Air Canada’s Loyalty program of $607M CN.
    TD is the main Aeroplan point purchaser. That is shocking news and a big change is likely going to occur in the near future.

    No doubt AC’s new loyalty program (2020) will hurt members miles accumulations via credit card purchases. Point cost will definitely increase for TD and so will annual credit card fees-for the consumer. Accumulating miles will get harder.

    Bottom line. AC will reward loyal frequent flyers (Status Focus/ spend) rather than credit card miles accumulators.Thats the future in Canada .
    Cheers!
     
    #1