At press time, Air Canada was slated to emerge from bankruptcy at the end of September, and rumors were swirling that Aeroplan may ultimately be spun off as a stand-alone business.

Marketing experts at Colloquy have suggested that the airline may, as part of its restructuring, establish several semi-independent businesses that could be partly sold, including its regional subsidiary, Jazz, online travel business Destina, maintenance service, cargo and ground-handling operations.

Observers have noted that Aeroplan has been busy the past few months remolding its image as a “lifestyle” rewards program rather than an exclusively travel related one.