[Arran]

I don't recall seeing a replica of that Airline, usually the one you see is a replica of one of those bullet shaped Belmonts with a crescent shaped dial opening. The reason being is that one was featured in the Phillip Collins book "Radios the Golden Age" back in the 80s, the replicas often have a cassette player slot in the side and a plaque on the front that says either Thomas or Crosley.
In any event there was a craze on these for a while, the bullet shaped Belmont much more so then the Airlines, at least until the supply outstripped the demand, unlike most Catalin models Bakelite sets were produced in much greater quantities. At one point they were hitting $200-300, which of course flushed more of them out of the woodwork, and being Bakelite AC/DC sets there were many more in the woodwork. Add to that all of the ones that were cracked, chipped, filled, and repainted, and the supply was increased even more.
I don't know about that particular Airline but some of them of a six tube chassis with an extra RF stage, so they should be pretty decent performers. So it may earn it's keep by being a decent radio and not just a pretty face.
I can't comment on the specifics of the Serenader model, most Serenader sets were made by Grimes-Phonola later Dominion Electrohome and were sold by "The Robert Simpson Company" stores or through their catalog. What I find strange is that this set does not seem to have a brass plaque on the back of the chassis nor an Ontario Hydroelectric Power Commission approval decal. So this set may be Canadian or it may be one of of the many generic table radios produced by one of the American independents. If you could show a closeup of the dial escutcheon that would help.
Regards
Arran