Points.com is a very interesting site. Essentially, it allows you to either trade one type of miles (e.g. AA) to another type (e.g. Aeroplan) at either a horrible ratio or for 2 cents per mile, if you trade with other people at a 1:1 ratio. What further is interesting is that Aeroplan was a very “valuable” currency in points.com eyes, in that trading 1000 aeroplan would net more miles in other currencies. And that was true, until they severely devalued their points.
Until recently, transferring Aeroplan to US airways at a (1:~0.82) ratio was still possible, meaning that awards without fuel surcharge for some zones were still possible, like North Asia for 90k Dividend Miles vs. 125k Aeroplan Miles. It was also something that I’d plan to mention in my Aeroplan series, except it’s no a good redemption.
When I was checking today, it looks like Aeroplan now transfers at a 1:0.73 ratio. So now that means any award zones that would be still useful when transferring to US are not an option anymore, unless in select cases of First Class (and that is still questionable).