Aimia Inc. (TSX: AIM), owner of a 48.9% equity stake in PLM Premier, S.A.P.I. de C.V (PLM), owner and operator of Mexico´s coalition program, Club Premier, has announced COVID-19 is expected to negatively impact PLM, the company said.
Aimia has been working closely with the PLM management team and its joint venture partner, Aeromexico, to understand the impacts on the PLM business of COVID-19.
As the result of the negative impacts from COVID-19 on its business, PLM is now expecting materially lower Gross Billings, adjusted EBITDA and Cashflow in 2020. Consequently, Aimia now expects distributions from PLM operations to be materially impacted.
The company continues to closely monitor the evolving situation and will provide further updates to the market in accordance with its disclosure obligations.
Aimia Inc. (TSX: AIM) operates a loyalty solutions business, which is a global full-service provider of next-generation loyalty solutions for many of the world´s leading brands in the retail, CPG, travel & hospitality, financial services and entertainment verticals.