MONTREAL, June 30 /CNW Telbec/ - Groupe Aeroplan Inc. (TSX:AER) announced
today that it will launch a coalition loyalty program in Italy. The program is
modeled on its successful Nectar program in the UK. Groupe Aeroplan will have
a majority 75% ownership in the new Italian program.
Groupe Aeroplan has signed contracts with a number of partners from the
retailing sector and plans to launch the new program in 2010.
"We have publicly stated that we intend to grow our core business
offering and I am delighted that we are making good progress in executing this
strategy in Italy," said Rupert Duchesne, President and CEO of Groupe
Aeroplan. As one of the world's largest economies with 58 million consumers,
Italy offers Groupe Aeroplan a significant untapped growth opportunity."
Groupe Aeroplan's portion of the funding requirements for the launch of
the program is estimated to be in the range of (euro)15 million ($24 million)
over the next 12 months. Other than expenditure on pre-launch activities,
which will utilise an element of the funding requirement, this announcement
will have no material impact on financial results for 2009. When successfully
launched, it is expected that within three years, gross billings in Italy
could be in the range of 60 million to 80 million Euros.
Due to competitive considerations, the details of the program, including
the participants, will not be disclosed until closer to the commercial launch
Caution Concerning Forward-Looking Statements
Certain statements in this news release may contain forward-looking
statements, including the launch of the Italian program, Groupe Aeroplan's
related funding requirements and estimated gross billings. Forward-looking
statements, by their nature, are based on assumptions and are subject to
important risks and uncertainties. Any forecasts or forward-looking
predictions or statements cannot be relied upon due to, amongst other things,
changing external events and general uncertainties of the economy and the
business of Groupe Aeroplan and its partners. Results indicated in
forward-looking statements may differ materially from actual results for a
number of reasons, including the factors identified throughout Groupe
Aeroplan's public disclosure record. The forward-looking statements contained
in this discussion represent the corporation's expectations as of June 30,
2009, and are subject to change after such date. However, the corporation
disclaims any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or otherwise,
except as required under applicable securities regulations.
About Groupe Aeroplan Inc.
Groupe Aeroplan Inc. is a leading international loyalty management
corporation. Groupe Aeroplan owns Aeroplan, Canada's premier loyalty program
and Nectar, the United Kingdom's leading coalition loyalty program. In the
Gulf Region, Groupe Aeroplan owns 60 per cent of Rewards Management Middle
East, the operator of Air Miles programs in the United Arab Emirates, Qatar
and Bahrain. Groupe Aeroplan also operates Insight & Communication, a
customer-driven insight and data analytics business offering international
services to retailers and their suppliers.
For more information about Groupe Aeroplan, please visit
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