[2] On August 21, 2018, Air Canada, along with TD, CIBC and Visa, agreed to acquire Aeroplan from Aimia for CA$450 million in cash.

[4] On August 11, 2020, Air Canada released details about its new loyalty program, which was a relaunch of Aeroplan.

In recent years, Aeroplan has evolved into a loyalty marketing program with retail partners such as Home Hardware, Birks and Nestlé Canada.

In June 2005, Air Canada's parent company, ACE Aviation Holdings, sold 12.5% of Aeroplan for $250 million through an initial public offering, thereby creating the world's first publicly traded loyalty program, Aeroplan Income Fund, at a valuation of $2 billion.

[13] In the past, Aeroplan had a policy where all miles would expire after seven years, even if there was continued activity in the account.

Members have argued that Aeroplan had already been paid for the miles through the selling partner by virtue of the retail pricing and by fees charged for certain collector credit cards.

[15][16] As Aeroplan refused to give the miles back, a class action lawsuit[17][18] was launched by Montreal lawyer Owen Falquero of Merchant Law Group LLP.

[19] On August 3, 2009, the Quebec Superior Court granted authorization to launch a class-action lawsuit challenging Groupe Aeroplan Inc.'s practice of cancelling points accumulated in its loyalty program.

The motion, obtained by Montreal lawyer Owen Falquero of Merchant Law Group LLP, was filed on behalf of about seven plaintiffs across Canada; however, thousands of petitioners have registered for membership in the class.

At higher levels, members were rewarded with less expensive flight redemptions, priority access to call centers, and status matching with other rewards/loyalty programs.

[32] Aimia's conditional deal with TD would last ten years and involve an up-front payment of $100 million.

Aimia said that CIBC had until August 9, 2013, to exercise its right of first refusal by matching the terms of the proposed TD contract.

[8] In addition, on June 27, Aeroplan announced the launch of Distinction Archived July 1, 2013, at the Wayback Machine, a tiered recognition program that rewards top accumulating members based on total Aeroplan Miles earned across all coalition partners, with preferential mileage levels for redemption, bonus mile offers, and exclusive privileges.