Not unusual for an offer to be rejected and a new offer to be tendered at a later date.They are not that far apart;
AC and the 3 CC companies offered $325 million and the "assumption" of the debt obligation. Aimia wanted $450 million. That's chump change in a big deal. If AC increases the offer, I expect that the people holding AE miles will see a significant devaluation to cover that increased cost.
It is also not unlikely to have an alternative purchaser treat this as an asset sale only and provide a better price than AC and then let Amia declare insolvency, flushing all the members miles. Look at what happened to the FFs of Air Berlin.
I really do expect that people are going to get screwed over.
Originally Posted by
pitz
Can "OW" even really negotiate on behalf of its "members" these sorts of deals? The claim doesn't sound all that credible, given the very real limitations inherent to the airline "alliances" in terms of anti-trust limitations. A lot more credibility would be gained if they actually named a OW "member" that they were negotiating with, as opposed to the implied claim that they were negotiating collectively with an organization that may very well be prohibited from collective negotiation in such matters.
Is there any historic precedent for any other FFP program to change alliances without its traditional alliance sponsor/partner going along with?
Nothing unusual in OW looking at this as it is in its mandate. The member airlines retain the right to change/manage their frequent flyer programme rules, regulations, travel awards and special offers in accordance with their respective program rules. OW is negotiating the purchase of IP., an asset, on behalf of its members.
The more I look at this, the more I think I am about to get screwed over and to lose miles that I have been unable to redeem on Aeroplan.. (I fly business and want to redeem in business.)
If the government doesn't get involved before this blows up, then this, combined with the talk of the new inheritance taxes, is going to be one nasty political maelstrom next year.