08:27 AM EDT, 08/13/2024 (MT Newswires) -- Aimia ( AIMFF ) on Tuesday said its second-quarter loss narrowed on a 64% rise in revenue as it continues a strategic review.

The investment-holding company said it lost $4.6 million, or $0.10 per share, in the period, narrowing from a year-prior loss of $74.5 million, or $0.93.

Revenue rose to $122.4 million from $74.8 million.

The company, which earlier this year won a proxy battle with its largest shareholder, said its revenue gains included $32.9 million received in earn-out payments from the 2022 sale of a loyalty program to Aeromexico.

Aimia ( AIMFF ) is continuing a strategic review launched amid its proxy battle as it looks for ways to return capital to its shareholders.

"Currently, our options include the potential sale of Aimia's ( AIMFF ) core holdings, the potential spinoff of core holdings, the potential recapitalization of the Holdco or core holdings or the potential merger of core holdings with other entities, which may enable the use of the Company's cumulative tax losses," Executive Chair Tom Finke said in a release.

The company reiterated its 2024 guidance and said it repurchased 1.78-million of an allowed 7.01-million shares in a 12-month normal-course issuer bid launched in May.

Aimia's ( AIMFF ) shares closed unchanged at $2.70 on Monday on the Toronto Stock Exchange.