07:31 AM EDT, 06/16/2025 (MT Newswires) -- Aimia ( AIMFF ) on Monday said it has resolved its tax dispute with the Canada Revenue Agency (CRA) and anticipates a refund of $27 million pending final processing of the settlement agreement.

Aimia ( AIMFF ) expects to use the proceeds to support its 2025-2026 share buyback.

The tax dispute relates to a 2013 income tax audit of Aimia's ( AIMFF ) former subsidiary, Aeroplan, which was sold to Air Canada in 2019.

According to a statement, when Aimia ( AIMFF ) sold its subsidiary to Air Canada. it agreed to indemnify the airline for pre-closing income tax liabilities and put $100 million from the sale proceeds into an escrow account. In 2019, Aimia ( AIMFF ) remitted $32.9 million from the escrow account to the CRA and the provincial tax agency, Revenu Quebec, upon receipt of a notice re-assessment for the 2013 tax audit. In July 2020, the balance of the escrow account, $67.1 million, was released to Aimia ( AIMFF ).

Aimia ( AIMFF ) will seek to recover from Revenu Quebec the remaining $6 million portion of the 2013 tax audit.