MONTREAL — Groupe Aeroplan Inc. (TSX:AER) saw its second-quarter results deteriorate as the economic recession and concerns about Air Canada’s future caused members to spend less and redeem more Aeroplan loyalty points.
The Montreal-based company, which runs customer-loyalty programs for the airline and other businesses, reported profits of $26.7 million or 13 cents per share for the quarter ended June 30, down from year-earlier net earnings of $31.5 million or 16 cents per share.
Groupe Aeroplan, which originated as the in....