Air Canada, Aeroplan agree on pension plan

Wed Jun 27, 2012 11:08am EDT
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(Reuters) - Air Canada will transfer to Aimia Inc-owned Aeroplan, its customer loyalty program, the pension obligations of employees who moved with the Aeroplan business in 2009.

Air Canada, which started Aeroplan in 1984 as an incentive program for frequent flyers, spun it off in 2002.

Aeroplan said it would continue to fund the pension plan.

The company said the Office of the Superintendant of Financial Institutions is expected to rule on the transfer in the next 18 to 24 months.

(Reporting by Aftab Ahmed in Bangalore; Editing by Sriraj Kalluvila)