A group led by Air Canada has reached a deal to buy the Aeroplan loyalty program from Aimia Inc. The group, which includes TD Bank, CIBC and Visa Canada, will pay $450 million in cash It will also assume the approximately $1.9-billion liability associated with Aeroplan miles accumulated by customers The price is up from an initial offer of $250 million in cash and the assumption of the reward point liability that was rejected by Aimia in July The deal is expected to close this fall