At the moment, the situation is still unfolding, so it’s too early to say that the Air Miles Program is either dead or alive. BMO’s acquisition of the program is giving Canadians a small glimmer of hope, but BMO has yet to announce what the program will look like under their ownership. If you have a stockpile of Dream Miles to cash out, using them to purchase a merchandise item is the easiest way to ensure that you get the best value from them, however, there’s no guarantee that orders will actually be filled. Putting them towards a flight ticket or hotel room is not recommended unless you have immediate travel plans, but, again, the company can’t guarantee that flights will be ticketed. According to the Air Miles website, customers' reward miles will not be affected, and Canadians can continue to acquire Air Miles, although it’s uncertain how long reward points will hold their value.