6/23/2023 0 Comments White knight beyond![]() Then came years of stagnancy and lack of growth as customers organically veered away from using Air Miles, because it was harder to gain a sufficient amount of miles to redeem for decent rewards. To quickly recap what brought the bank to make the purchase, the Air Miles loyalty program had been in decline for quite some time.įirst came the news of enormous devaluations in 2021, particularly when using Air Miles for travel. The bank paid $160 million (USD) to bring the loyalty program under its purview, and the deal has now been completed. On June 1, 2023, BMO completed its acquisition of Air Miles. It looks like this story has at least another few chapters yet to be written, because the white knight known as the Bank of Montreal has completed its acquisition of Air Miles as of June 1, 2023. ![]() Through its precipitous rise to its ignominious and sad internal collapse, the brand has maintained a recognition amongst Canadians unparalleled by any other loyalty rewards program. ![]() Air Miles has a story that’s as iconic as it is dramatic. ![]()
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