Airlines
The Low-Cost Carrier and Digital Threat to Loyalty and Points Programs
Since the creation of American Airlines’ frequent flyer program, what was meant to be a simple scheme to encourage repeat business has evolved into a shadow currency funding a large business sector that reaches across to all travel products and to banking institutions. It’s difficult to imagine all of that crashing overnight, or that it would be allowed to crash at all. If Jacobs happens to be right, then it’s bound to crash eventually, but there should be time to see the bright lights coming from the opposite direction.