Although one would think that there has to be some sort of plan or course of action to be taken if AC would go under particualrly since they are seperate entities. Surely, Aeroplan can't just fold if AC folds. Don't they have to fullfil their end of the bargain with miles redemption?
I'm sure aeroplan would survive for at least awhile after an AC liquidation. (Where they shut down completely, not just a reorganization). While you probably wouldn't be able to redeem for flights at a fixed mileage anymore, they might do an AirMiles type deal where they buy tickets on various airlines. And besides, you could still get a toaster!
Michael
PS. Is the analyst's report publicly available anywhere, or only to Raymond James clients? I checked their website, and my broker's research department, and I couldn't find it either place
