The Collaborative International Dictionary of English v.0.48:

aeration \aer*a"tion\, Aeration \A`["e]r*a"tion\, n. [Cf. F.
   a['e]ration.]
   1. Exposure to the free action of the air; airing; as,
      a["e]ration of soil, of spawn, etc.
      [1913 Webster]

   2. (Physiol.) A change produced in the blood by exposure to
      the air in respiration; oxygenation of the blood in
      respiration; arterialization.
      [1913 Webster]

   3. The act or preparation of charging a liquid with carbon
      dioxide gas to make it effervescent.
      [1913 Webster]

   4. the act of charging a liquid with air or oxygen for the
      purpose of purification.
      [WordNet 1.5 +PJC] aerator

The Collaborative International Dictionary of English v.0.48:

Arterialization \Ar*te`ri*al*i*za"tion\, n. (Physiol.)
   The process of converting venous blood into arterial blood
   during its passage through the lungs, oxygen being absorbed
   and carbonic acid evolved; -- called also a["e]ration and
   hematosis.
   [1913 Webster]

WordNet (r) 3.0 (2006):

aeration
    n 1: the process of exposing to air (so as to purify); "the
         aeration of the soil"
    2: the act of charging a liquid with a gas making it
       effervescent