Aeroméxico buys back Club Premier

Mexican airline Aeroméxico is taking back full control of its Club Premier (PLM) loyalty programme by buying out Aimia’s 48.9% stake for $405 million. After the completion of the deal, which is currently only under a binding letter of intent, PLM will become a wholly-owned subsidiary of Aeroméxico (through Aerovías). The parties expect the deal to close within six months of the bankruptcy court confirming the plan, pending its approval by the Mexican antitrust authorities. “Today’s announcement is another very exciting day for the Aeroméxico family and our Club Premier members,” said Andres Conesa, CEO of Aeroméxico. “This is an