Aimia targets Mexican gains

Article Excerpt

AIMIA INC. $14.80 (Toronto symbol AIM; TSINetwork Rating: Extra Risk) (514-205-7315; www.aimia.com; Shares outstanding: 172.3 million; Market cap: $2.6 billion; Dividend yield: 4.3%) has agreed to raise its stake in Club Premier Loyalty & Marketing, the loyalty program of Grupo Aeromexico, Mexico’s biggest airline. This move is part of Aimia’s plan to diversify its operations geographically. Aimia will pay $88 million U.S. to increase its interest to 49% from 29%. Grupo Aeromexico will continue to own 51%. Club Premier is Mexico’s leading loyalty program, with more than 2.8 million members and 50 partners. Club Premier members can earn and redeem points on Aeromexico, which offers 550 daily flights throughout the Americas and to Europe and Asia. As well, members can earn points on 14 other airlines, including Delta and Air France-KLM. Aimia is a buy. buy…