Avianca has just increased its stake in the LifeMiles loyalty program, according to a new regulatory filing. This shouldn't have any major implications for members, but it's an interesting development nonetheless. Avianca has just increased its equity stake in LifeMiles by 19.9%, at a purchase price of $195 million. That includes: $26.5 million paid with…
Continue reading: Avianca Increases Stake In LifeMiles Loyalty Program
Share your questions, experiences, and thoughts below.
It's just concerning that if Avianca goes down, LifeMiles will go with them...
I just redeemed Lifemiles (from Amex) a few weeks ago. The transfer was instant from Amex, which is what's posted, but it took LifeMiles 24 hours to actually process it and for my balance to reflect it, which is obviously what's needed to make the redemption. Is that normal? It was very frustrating because they won't hold the award space so I basically had to pray it didn't get taken for 24 hours. Luckily it all worked out.
It is most likely that Lifemiles is the only money making department in Avianca.