Originally Posted by
ashill
Even in the still very unlikely event that AA the airline ceased to exist, it’s possible that AAdvantage would be spun off and continue to exist and/or be absorbed into whatever picks up the pieces of the airline.
That is true. When NW merged into DL and DL made Amex its sole CC partner, the bank NW used to run with (US Bank) kept its loyalty program mechanism alive with a new name... FlexPerks. The alternate-currency industry is very dynamic.