The new game plan in the airlines industry is becoming quite obvious. By reducing capacity, the price of an airline ticket will go up with the continued demand. At some point in the future, the leisure traveller will be priced out of the market and travel will become a luxury again of the wealthy, the corporate flyer (flying on our dime really) and those of us with hordes of miles. A frequent flyer mile will again be worth 2 cents, maybe more depending on how high fares get.

Sure the airlines can adjust the awards charts, but will they? I don't think so as the frequent flyer programs are one of the real and constant money makers for the surviving airlines whoever they may be. Five percent to 9% of available seats will still have to be available for awards or the programs themselves will lose their value and appeal.

So today, the mileage hoarders win, and those that have been burning their miles are coming up short, as their stockpiles of future travel are diminished.

Our asset's value is on the rise.