New alliance for Aimia

Article Excerpt

AIMIA INC. $19.30 (Toronto symbol AIM; TSINetwork Rating: Extra Risk) (514-205-7315; www.aimia.com; Shares outstanding: 173.0 million; Market cap: $3.3 billion; Dividend yield: 3.5%) is buying an unspecified minority stake in Think Big Digital. This company runs the BIG loyalty program for Malaysian-based AirAsia Berhad and its affiliate, the Tune Group, a hotel operator. Aimia says it will pay $17 million for its stake, plus an additional $7 million if certain milestones are met by the end of 2015. AirAsia continues to grow rapidly, expanding from two aircraft to more than 160 in 12 years. It currently flies about 43 million passengers a year. The BIG program has benefited from that growth and attracted a wide range of partners, including credit card companies, retailers, gas stations and telecom firms. Aimia is still a buy. buy…