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Points has launched the ConnectMiles Accelerator, enabling Copa Airlines’ ConnectMiles members to boost their miles faster. Members can multiply their miles by up to three times their value, with a cap of 200,000 miles per year. This initiative aims to meet the pent-up demand for travel as the industry recovers post-pandemic. Copa Airlines has partnered with Points since 2016, and this new feature expands their loyalty offerings. The program is part of Points' ongoing efforts to enhance member benefits and improve the travel experience.
Points (NASDAQ: PCOM) has announced the launch of MilesBooster, a new feature for the Etihad Guest loyalty program. This allows members to multiply their miles earned from various activities, including flights and everyday spending, by paying a special mileage rate. Members can boost up to 150,000 miles annually based on their tier status. This initiative aims to enhance member engagement and reward loyalty, with over 7 million Etihad Guests benefiting. The partnership has resulted in several product innovations since 2014, showcasing Points' commitment to improving loyalty solutions.
Points International Ltd. (NASDAQ: PCOM) announced its intention to repurchase up to 746,992 common shares, approximately 5% of its outstanding shares, through a normal course issuer bid accepted by the TSX. This buyback will commence on September 9, 2021, and end on September 8, 2022. Shares will be repurchased at market prices, facilitated by an automatic share purchase plan, which allows transactions during blackout periods. The company did not repurchase shares under its previous bid, which concluded on September 8, 2021.
Points International Ltd. (PCOM) reported a significant rebound in its second quarter 2021 financial results. Revenue surged by 152% year-over-year and 58% sequentially, reaching $103 million. Gross profit rose 76% from the prior year and 37% sequentially, amounting to $12.3 million. Adjusted EBITDA saw a remarkable increase of 10 times year-over-year to $3.4 million. The company is also expanding its presence through new partnerships in Asia-Pacific and the Middle East, despite ongoing global recovery challenges.
Points International reported robust financial results for Q2 2021, showcasing a 152% year-over-year revenue increase to $103 million, and a 58% sequential rise. Gross profit surged 76% year-over-year to $12.3 million, with a 37% sequential increase. Adjusted EBITDA skyrocketed 10 times from the previous year, now at $3.4 million, reflecting strong recovery from pandemic impacts. The company also announced new long-term partnerships, including one in the Asia-Pacific region, while preparing for a share repurchase program to enhance shareholder value.
Points International Ltd. (TSX: PTS, Nasdaq: PCOM) will host a conference call on August 11, 2021, at 4:30 p.m. ET to discuss its Q2 2021 financial results. The results will be released prior to the call. Investors can join the call using the toll-free number 1-877-407-0784 or the international number 1-201-689-8560, with Conference ID 13721291. A replay will be available until August 25, 2021. Points is a leader in loyalty commerce, partnering with top loyalty programs globally.
Bilt Rewards introduces a groundbreaking rewards program for renters, allowing them to earn points on their rent payments. This partnership with Points enables renters to convert their points into travel rewards with major airlines and hotels, enhancing the utility of their rental payments. The program targets the $500 billion rental market, addressing the significant financial burden of rent, which is often the largest monthly expense for many Americans. Renters can now effortlessly earn rewards and pursue dream vacations by simply paying their rent.
Frontier Airlines has partnered with Home Chef to enhance its FRONTIER Miles loyalty program. Starting today, members can earn 700 miles on their first five orders from Home Chef. This collaboration is facilitated by Points, a leader in loyalty commerce, and aims to increase customer engagement by enabling dining experiences that also reward travel points. Frontier becomes the third North American airline to integrate this program, reflecting a growing trend of expanding loyalty rewards. Members benefit from earning miles through meal kit purchases, offering added value to their loyalty experience.
Points (TSX: PTS, Nasdaq: PCOM) has introduced a new feature allowing Emirates Skywards members to multiply Skywards Miles, enabling faster access to rewards. Members can boost Miles accrued from various sources, like credit card spending and flights, up to an additional 50,000 Miles annually. This enhancement strengthens the partnership between Points and Emirates, which began in 2018, further enhancing the loyalty program's value for users and providing additional revenue streams for Points. CEO Rob MacLean emphasized the convenience this brings to members' travel plans.
Points International (TSX: PTS, Nasdaq: PCOM) has announced a new partnership with Mashreq and Emirates Skywards, allowing Mashreq customers to convert their Salaam reward points into Skywards Miles. This service, enabled by Points' Exchange product, offers customers enhanced options for redeeming rewards, including flight bookings and travel packages. Mashreq aims to enhance customer experience and solidify Salaam as a top banking loyalty program. The partnership comes as the travel sector anticipates a rebound in demand following COVID-19 restrictions.
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