It's not uncommon for Aeroplan to delay ticket issuing until some time relatively close to departure.

My guess is, this may have something to do with the "arrangement" with AC (i.e., an exercise of creative writing, AKA as accounting). My guess is they don't have to "pay" AC until the ticket is issued. So the interests stay with Aeroplan. More of the ACE strategy of moving profit out of AC and into the smoke and mirror operations. Makes them look good until AC is fully divested, at which point the pendulum will move back, I am sure.