AC and AeroplanAC took on close to $2 billion in liability based on the purchase of Aeroplan from Aimia. Ii imagine a lot of trhose points will now be redeemed for merchandise rather than travel - probably to the detriment of AC, On the other hand the Aeroplan program is generarally misunderstood by many consumers who don't know that the points can expire without purchases through AC or participating partners - much to AC\s advantage for the casual collector