Owners of the Aeroplan loyalty program have struck a deal with online retailing giant Amazon that will enable the loyalty program's five million members in Canada earn reward points while shopping online.

Starting in April, Aeroplan members who visit Amazon.ca through Aeroplan's web portal will be able to earn Aeroplan miles for every dollar spent.

The deal is contingent on accessing Amazon through Aeroplan's website, as opposed to just shopping directly at Amazon.ca. But Aeroplan members with silver and black status can earn more than one mile per dollar, just as they normally would, as long as they shop via the portal.

"With an ever-increasing amount of shopping being done online, we're thrilled that our members will now be able to earn Aeroplan Miles on Amazon.ca, allowing them to get closer to their travel plans," said Vince Timpano, president of coalitions at Aimia Inc., the TSX-listed company that owns Aeroplan.

Air Canada severs ties

"Our members have big travel plans, so making every single purchase work hard for them — even as they change where they shop — is critical to our continued evolution as the trusted companion for savvy travelling Canadians."

It's the service's biggest partnership since it announced last May that Air Canada had decided to sever ties with the company, starting in 2020.

Aimia shares, which had been trading at around $9 each before the Air Canada news, plunged and have since been changing hands at about $1.60 a share, more than 80 per cent lower. The shares took a new tumble as recent as last week when Aimia announced that members would no longer be able to earn miles at Esso gas stations starting June 1, with the gas chain moving its loyalty program to PC Optimum instead.

But investors responded positively to Monday's news, as Aimia shares rose almost 20 per cent to $1.90 in afternoon trading on Monday.