If demand remains strong, absolutely. If demand falls off, as would be typical during a recession (like all the empty planes that were flying around in late 2002 and into 2003/2004), then it shouldn't be that much more difficult.

I don't think the airlines have the ability to grow their load factors by much anymore since they are already running at record levels. And Aeroplan reward seats (Classic) are residual seats anyways -- seats that would have gone empty otherwise because of few prospects of being able to sell them as revenue seats.