Delta's SkyMiles is the most valuable program at $27.3 billion, followed by American's AAdvantage at $23.9 billion and United's MileagePlus at $22 billion.
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GLOAccording to an article published on simpleflying.com the US big three airlines have the largest loyalty programs, far surpassing the other carriers on the list with a combined value of $73.8 billion. Delta’s SkyMiles is the most valuable program at $27.3 billion, followed by American’s AAdvantage at $23.9 billion and United’s MileagePlus at $22 billion. The value of these programs became evident during the pandemic when airlines used them as collateral for loans. These loyalty programs are a significant driver of airline profitability and allow airlines to create and sell currency at their discretion. In fact, the value of these programs is greater than the market capitalization of all three airlines. Southwest’s Rapid Rewards is fourth on the list with a value of $8.8 billion, reflecting the carrier’s low-cost business model. It is the only budget airline in the top 20.
As we move further down the list, the competition becomes more intense. Lufthansa Group’s Miles and More program, which includes 10 airlines, is valued at $7.9 billion, while IAG’s Avios program, which includes British Airways, Iberia, and other airlines, is worth just over $7 billion and is ranked sixth. The consolidation of Europe’s airlines has helped these programs offer more benefits and achieve the necessary scale for success. Air Canada’s Aeroplan, valued at $6.8 billion, brings the list back to North America, but Asia and Oceania dominate the rest of the list. Korean Air’s SkyPass is ranked ninth at $4.6 billion, followed by Cathay Pacific at $4.55 billion. Cathay is the only airline in the top 10 to see its valuation decrease since 2020, likely due to Hong Kong’s prolonged travel restrictions. Singapore Airlines’ KrisFlyer is ranked 11th at $4.5 billion, down from $5 billion in 2020. Both airlines are looking to regain their position as international travel resumes fully, following a challenging three-year period with limited domestic markets. Alaska’s Mileage Plan is ranked 12th, followed by Qantas at 13th with a value of $4.4 billion and $4.2 billion, respectively. China Eastern’s program is ranked 14th at $4.1 billion, and JetBlue rounds out the top 15 with a value of $3.9 billion. LATAM is the only South American or African carrier to make it into the top 20, ranked 19th.
