Nov
27
2019
Just as it’s important to remind industry watchers the role that frequent flyer programs play in driving airline profitability it’s important to realize that’s not in the numbers as well as what’s included – although I believe that in some measure the market actually prices these things in fairly already.
My own controversial belief, not fully supported by data, is that there’s a lot of ‘slop’ and misreported estimates in corporate accounting – entirely apart from and beyond the airline industry – and there are potential land mines hidden in plain sight all over the place because gaming of numbers and willful blindness are problems that replicate themselves across decisions throughout companies.
