Ryan Air Boeing 737-800

But the point stands that without the revenue from loyalty programs that we can derive directly, all of the “profitable” models that “work” become unprofitable and by a lot. The biggest loser among them is American, but United and Delta are not far behind. None of them can compete with Ryan Air without a loyalty program. Global airlines like British Airways, Air France/KLM, and Lufthansa Group struggle too. Singapore Airlines does well but its loyalty program contributions are harder to identify.

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