Air Miles has been in troubled waters for a very long time now, and at present, its future has turn out to be much more unsure.

It seems that its mum or dad firm Loyalty Ventures Integrated is getting ready for chapter submitting, which sounds loads like the ultimate nail within the coffin for the beleaguered Air Miles.

Loyalty Ventures Prepares Chapter Submitting

As reported by Bloomberg, Air Miles’s mum or dad firm Loyalty Ventures has begun restructuring talks with collectors. Whereas nothing has been made official but, it’s anticipated that Loyalty Ventures might file for chapter safety within the coming days.

Air Miles has been shedding partnerships left and proper over the latest previous, together with the latest losses of Sobeys and Staples, and has struggled to stay related to Canadian shoppers. 

Over the course of the previous 12 months, Loyalty Ventures’s inventory value has plummeted by round 96%, and prior to now day alone, it has dropped by over 60%. That is actually not excellent news for Air Miles, which has been struggling to stay related for fairly a while.

Burn Your Air Miles (Whereas You Nonetheless Can)

With a lot uncertainty about the way forward for Air Miles, it goes with out saying that it’s higher to burn your miles whereas it’s nonetheless doable. 

The Air Miles web site remains to be useful, however there could possibly be a flood of site visitors within the coming hours as information breaks out. 

You probably have Air Miles Money Rewards, you’ll be capable to redeem them for grocery purchases at your native gasoline station or grocery retailer, like Shell, Jean Coutu, or IGA at a ratio of 95 Air Miles = $100.

You may additionally redeem Money Rewards for a present card, which might be immediately obtainable on-line. Certainly, this can be the quickest technique to redeem your Money Rewards for an instantaneous payout.

In the meantime, when you have Air Miles Dream Rewards, in idea you’d be capable to redeem these Dream Rewards for varied sorts of rewards like journey, merchandise, and occasion tickets through the Air Miles web site. 

Nonetheless, in observe, with Air Miles’s mum or dad firm submitting for chapter imminently, there is probably not a assure that your required Dream Rewards redemption will truly be fulfilled.

In the event you’re sitting on a big pile of Dream Rewards, a merchandise merchandise could be the most easy technique to safe some speedy worth out of your Air Miles, until you will have any speedy upcoming journey plans that you may redeem Air Miles for.

Both approach, it’s anybody’s guess as as to whether merchandise orders will truly be shipped out, or flights ticketed, given Air Miles’s precarious state of affairs in the meanwhile.

Sadly, when you’ve elected to earn Money Rewards or Dream Rewards, there’s no technique to change your Air Miles to the opposite sort.

This speaks to one of many program’s long-standing weaknesses, which can certainly have performed a job in irritating prospects to such an extent that the mum or dad firm is now verging on chapter.

Conclusion

The mum or dad firm of the Air Miles loyalty program, Loyalty Ventures Integrated, is getting ready to file for chapter. All indicators level in the direction of this system being in bother very imminently, so it’s finest to redeem any Air Miles you will have in your account as quickly as doable. 

The fallout could be felt far and extensive if Air Miles have been to go down, given this system’s ubiquitous presence throughout Canadian households and the unprecedented scale at which hard-earned rewards could be misplaced. Right here’s hoping that the Air Miles story serves as a cautionary story for different loyalty applications to keep away from struggling the identical destiny.