Aeroplan to slightly devalue many of its awards — here's what you need to know

As a transfer partner of Bilt Rewards, Chase Ultimate Rewards, Capital One miles and American Express Membership Rewards, Air Canada's Aeroplan is a popular loyalty program that is full of lucrative sweet spots.

Unfortunately, there's a slight devaluation coming. While it's not all bad news, you'll have to use more points for many tickets issued on or after Sept. 1.

Here are the most important changes for you to be aware of.

Devaluations

Long-haul business-class and first-class partner flights across the Atlantic will require more points. Flights from the West Coast to Middle Eastern destinations like Cairo International Airport (CAI), Dubai International Airport (DXB) and Tel Aviv's Ben Gurion Airport (TLV) will be most affected.

• 6,001-8,000-mile distance band
• Business (partner): Increases from 85,000 to 90,000 points.
• First (partner): Increases from 120,000 to 130,000 points.

• 8,001-plus-mile distance band
• Business (partner): Increases from 100,000 to 110,000 points.
• First (partner): Increases from 130,000 to 140,000 points.

Business- and first-class partner flights from North America across the Pacific to Asia and the South Pacific will also be devalued.

• 7,501-11,000-mile distance band
• Business (partner): Increases from 85,000 to 87,500 points.

• 11,001-plus-mile distance band
• Business (partner): Increases from 105,000 to 115,000 points.
• First (partner): Increases from 140,000 to 150,000 points.

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Lastly, partner award pricing within South America is also being devalued. This will apply primarily to flights on Avianca, the Star Alliance hegemon in South America.

• 1,601-plus-mile distance band (an updated band with increases in partner pricing)
• Economy (partner): Increases from 15,000 to 20,000 points.
• Business (partner): Increases from 30,000 to 35,000 points.

Related: Pandemic-era devaluations: What's happened to frequent flyer miles and what may come next

New tiers with reduced pricing

Air Canada is also introducing new tiers with reduced pricing. You'll notice that on Air Canada metal, a range in the number of points is provided, but for partner prices, you'll still find fixed-rate redemptions.

First up are short- and medium-haul flights between North America and South America.

• 0-2,500-mile distance band (a new band with reduced pricing)
• Economy (Air Canada): 20,000-45,000 points.
• Economy (partner): 20,000 points.
• Premium economy (Air Canada): 35,000-100,000 points.
• Business (Air Canada): 40,000-150,000 points.
• Business (partner): 40,000 points.
• First (Air Canada): 60,000-175,000 points.
• First (partner): 60,000 points.

Additionally, flights between the Atlantic and Pacific under 2,500 miles will have a new pricing band with reduced award rates.

• 0-2,500-mile distance band (a new band with reduced pricing)
• Economy (Air Canada): 25,000-50,000 points.
• Economy (partner): 25,000 points.
• Premium economy (Air Canada): 30,000-65,000 points.
• Business (Air Canada): 40,000-75,000 points.
• Business (partner): 40,000 points.
• First (Air Canada): 50,000-100,000 points.
• First (partner): 50,000 points.

Related: The best ways to maximize Air Canada's Aeroplan program

Premium economy awards from the Atlantic to the Pacific

Lastly, Air Canada will start offering premium economy awards on medium- and long-haul flights between the Atlantic and the Pacific. These are new awards that are not currently offered.

• 2,501-5,000-mile distance band (updated from 0-5,000 miles)
• Premium economy (Air Canada): 50,000-75,000 points.

• 5,001-7,000-mile distance band
• Premium economy (Air Canada): 65,000-80,000 points.

Related: It's worth your time: A review of Air Canada business class on the Boeing 777-300ER

Bottom line

While some Aeroplan awards are going down, many are slightly increasing. Business- and first-class awards are disproportionately affected, a trend that we've been seeing in the points and miles space.

The new Aeroplan changes take effect for tickets bought or changed on or after Sept. 1, so now might be the time to redeem your points before the devaluation.