Airlines will be able to lean on their loyalty programs both for short term cash, and to put butts back into airline seats as soon as fear subsides.
They have a history of turning to their loyalty programs as cash cows – either spinning off the business or pre-selling 9- and 10-figure dollar amounts worth of miles to their co-brand credit card issuing banks. They can sell miles at a discount now to passengers who will redeem them later. And there’s never been a more effective marketing vehicle than the frequent flyer program for influencing consumer behavior, just as soon as behavior can be influenced again.