I have never understood why Jazz and AC are separate entities. They are virtually unrecognizable by most travelers as the same airline. Airports now use "Air Canada" to describe the flights. Most U.S. airlines have regional affiliates but they don't pretend it's not the same airline. You book Jazz flights on aircanada.com, the same as Air Canada flights.
Further, the term "regional" is not well-defined. Air Canada flies YYZ-YOW, but that's only a five hour drive. Yet Jazz did YYZ-YQR for most of the summer. It completely has to do with which plane AC is using... so why not just integrate the fleets and call it Air Canada? Seems like the the Jazz/AC capacity agreement is just smoke and mirrors.