Originally Posted by findark

This is an interesting point. It's long been my opinion (disputed by others here though) that the relative value of status and redemption benefits on airlines (especially US airlines) are extremely lucrative compared to other industries with loyalty programs. I can't imagine getting what is easily a 30+ percent rebate on $12,000 of spend pretty much anywhere else (at least not where I'm buying a relatively low-margin product -- "30% off" department stores not included). Lower load factors were a great reason why airlines could afford it though, which makes it interesting what the future holds.