May 11 (Reuters) - Aimia Inc AIM.TO
* Aimia reports first quarter 2017 results and updates on status of discussions with Air Canada
* Reconfirmed 2017 guidance
* Qtrly total revenue C$524.8 million versus C$570.1 million
* Qtrly earnings per share $0.04
* Recent discussions lead Aimia to belief that Air Canada does not currently intend to renew aeroplan partnership expiring in June 2020
* Exploring post-2020 alternatives
* Rupert Duchesne to retire, with interim group chief executive David Johnston to assume role permanently
* Newly adopted dividend policy targets future dividend payout ratio linked to cashflow generation
* Says material reduction in capital expenditures is also planned for 2018
* Aimia says also reviewing business units and investments on basis of their medium-term ROIC contribution; this may lead to further asset sales
* All figures in C$ Source text for Eikon: ID:nCNWjxRSPa Further company coverage: AIM.TO