Perhaps, but it doesn't increase their cashflow position so I wouldn't count on it.

The slew of promotions hitting us ATM are all CF generative. I have never seen J prices to some places this low in a number of years, and this is as much about generating cash flow as it is filling seats on flights that may never be taken, as you have money tied up with them until you finally fly on that flight or a FTV, or the flight gets cancelled.

What is certain is there will be a lot more reward seats available in the coming year or so, because if they know they can't fill the seats with cash buyers then it's better to stick a bum on it and reduce their overall Avios liability. { Especially if the cash pricing on the flight works out cheaper to them than you burning the Avios, which is the case with a very large proportion of flights currently. }