No - anything that disconnects the relationship between the frequent flier and the airline cannot be good. What happens if the 'Loyalty Programme" goes bust or has financial problems. GlobalPass is a case in point. It was once owned by a conglomerate of airlines - most bailed out due to various reasons. In the end, the programme had many members, many miles but no where to redeem - this is a real example. The programme was spun off a seperate entity with no obligations to anyone other then itself.
We need the connection. We need good staff who understands the airline, preferably someone who has worked the frontlines and understands FFers.
No - airlines should not spin off their FFPs. What's next - check in agents, pension plans, then the actual aircraft - wait - a virtual airline with no obligations to anyone. Hang on - aren't we almost there?