Aeroplan is updating its award chart on January 01, 2014 and the changes are both good and bad.
The Good: One-way awards at half the round-trip cost
Right now Aeroplan charges 67% of the r/t price for a one-way award. Starting on 01/01, that rate will drop to 50%. That means a one-way trip between Europe and North America in business class will be only 45K miles. If you travel on Lufthansa or Air Canada you will be hit with heavy fuel surcharges, but there are a number of Star Alliance partners with low or zero fuel surcharges.
Note that this “good” still has an asterisk next to it. Aeroplan only allows one-way awards for flights to/from North America. Unfortunately, that severely limits the utility of one-way awards for travelers outside the U.S. and Canada.
The Bad: Higher rates for Asia, Australia, the Middle East, and North Africa
Currently Australia is 135K miles r/t in business class and Asia, depending on the country, is 125-130K r/t in business with routings via Europe allowed to Asia. On 01/01, the chart becomes much less attractive. Oddly, going to northern Africa (Egypt, Tunisia, Algeria, Libya, and Morocco) will be more expensive than southern Africa. I cannot figure that one out, but the old chart remains in effect for three more days.
Still, it will be “competitive” with United’s new award chart that take effect on February 01, 2014.