Originally Posted by
fw90
The data is there if you look hard enough. You cannot deny that AA, UA, and DL make a majority of their profit on credit card related income. Would they be profitable otherwise? It’s hard to know since the model is so intertwined. AA probably not. Do they have other revenue streams? Yes. But not the same scale as CC. Even if 50% of the other income was CC that’s still well more than tickets generate.
Points are sold for cash. Points are exchanged for travel. And some ancillaries..
Tickets are sold for cash. Tickets are exchanged for travel.
Call the points gift cards if you wish.