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Article: JUDGE ORDERS AUCTION OF AIR CANADA'S CARD PROGRAM.

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Cardline
Article date:
May 9, 2003
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Ontario Superior Court Justice James Farley has ordered an auction of Air Canada's Aeroplan LP loyalty card portfolio after Air Canada received a last-minute bid for it from an unnamed card issuer, believed to be MBNA Corp.'s MBNA Canada (CardLine 4-30). Farley ordered the auction Thursday on the recommendation of Ernst & Young Inc., Air Canada's court-appointed monitor, Farley's clerk tells CardLine today. On April 1, Montreal-based Air Canada filed for protection from its creditors, but it did not technically file for bankruptcy. Canadian Imperial Bank of Commerce currently issues the Aerogold Visa card, the country's most popular card. Cardholders receive one Aeroplan ...

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