[ad_1]
Questions about the program’s focus
Barry Choi, who runs the Money We Have personal finance and travel website, said it is not yet clear whether the new loyalty program will be similar to Air Canada’s Aeroplan program, or closer to the previously existing BonBon program that was less consumer-facing and more focused on travel agents.
“I think if they go to the consumer-facing route, that’s where things can really start to get interesting,” he said in an interview. “Because I would compare it to other airlines, when you think about WestJet, Porter, and Air Canada, they all have their own credit cards already, where consumers can earn points on everyday purchases, which then can be redeemed for flights, hotels, and car rentals.”
Featured travel credit cards
featured
Scotiabank Gold American Express Card
Earn up to 6 Scene+ points per $1 spent and save on foreign transaction fees.
GO TO SITE
Interest Rates:
20.99% purchase, 22.99% cash advance, 22.99% balance transfer
Welcome offer:
$500 value
Earn up to $1,050 in welcome offers, first year rewards and savings value, including no annual fee in your first year, and up to 50,000 bonus Scene+ points.
featured
American Express Cobalt Card
Earn up to 5 MR points per $1 spent and transfer them to partner loyalty programs.
GO TO SITE
Interest Rates:
21.99% purchase, 21.99% cash advance, N/A balance transfer
Welcome offer:
$150 value
Earn 1,250 points for each month you spend $750, up to a maximum of 15,000 points.
featured
MBNA Rewards World Elite Mastercard
Get 5 MBNA Rewards points per $1 across five categories, plus an annual bonus of 10% in points.
GO TO SITE
Interest Rates:
21.99% purchase, 22.99% cash advance, 22.99% balance transfer
Welcome offer:
$200 value
Earn 20,000 bonus points (approximately $165 in cash back value) after you make $2,000 or more in eligible purchases within the first 90 days.
Choi said that having a loyalty program generally “makes sense” and can help the company make use of consumer data. “It’s kind of funny; you’d think that they would have something like this already. Every single brand I know has a loyalty program for this reason, yet they seem to be behind,” Choi said.
Consumers can expect more details in coming months
The program is a fundamental pillar of Transat’s business strategy, said Xavier Szwengler, the vice-president for marketing and distribution at Transat, in a news release on Monday. “It allows us to strengthen ties with our customers while accelerating sustainable value creation for Transat and its investors.”
More details on the program will be released in the coming months, he said.
Dan Iwachiw, vice-president and head of product at Visa Canada, said that the organization will introduce a “suite of cards designed to bring more travel opportunities, meaningful rewards, and exceptional payment experiences to Canadians.”
Air Transat reported its first full-year profit since 2018 in December. For its full fiscal year, Transat earned $241.9 million, thanks to a stellar third quarter, compared with a $114-million loss in fiscal 2024.
Air Transat flies mainly to destinations in Mexico, the Caribbean and Europe, and only two destinations in the U.S. As demand for flights to Florida, Las Vegas, and other stateside spots has plummeted, the airline sought out destinations farther afield.
Get free MoneySense financial tips, news & advice in your inbox.
Read more about news:
[ad_2]
The Canadian Press
Source link