Despite Air Canada’s continuing financial troubles, CIBC chief John Hunkin believes points earned through the Aerogold Visa program will remain safe.
“If some day for some reason there was no longer an Aeroplan program, clearly for the clients who now hold Aerogold cards, it would be our job to make sure we can provide an offer that would continue to hold those clients,” Hunkin told a conference of bank executives in Montreal in April.
The CIBC Aerogold Visa is the bank’s most popular, offering one point for dollar spent.
Air Canada, which has been in bankruptcy protection for a year, suffered another setback last month when a private investor repudiated a multi-million dollar bailout deal.
Hunkin didn’t provide any specifics to expand on his somewhat ominous claim, but insisted that the Aeroplan program shows no sign of ending. “I severely doubt that is going to happen,” he said.
Aeroplan personnel have so far declined comment.