by Mia Taylor
Last updated: 2:32 PM ET, Tue February 7, 2023
U.S.-based carriers are leading the pack when it comes to the value of their airline rewards programs heading into 2023.
Delta's SkyMiles, worth an estimated $27 billion, currently sits at the top of the heap among airline rewards program valuations, according to a newly-issued report from the global consultancy On Point Loyalty. American Airlines ranked second in the new report, with its Advantaged program worth more than $22 billion. United Airlines and Southwest Airlines round out the top four slots with rewards programs that have an estimated value of $22 billion and $8 billion, respectively.
Three non-U.S. airlines tied for fifth place in the ranking-Lufthansa, Austrian, Swiss, and Brussels airlines.
A United Airlines plane. (United Airlines)During the height of the COVID-19 pandemic, the importance of airline loyalty programs grew by leaps and bounds. In fact, many airlines relied on the earnings from these programs for survival while their flights were grounded as the pandemic dragged on.
"The financial support realized through these programs further strengthened our earlier hypotheses around the value they represent," Evert de Boer, managing partner at On Point Loyalty, said in a press release. "The valuations we published in early 2020 were corroborated by a number of transactions in the market over the last few years. With COVID largely behind us, now is the time to take stock and reassess the programs' valuations."
On Point Loyalty's research once again examined public information for more than 170 airlines around the world.
This data gathering was supplemented by On Point's own proprietary insights, which allowed the company to determine an estimated value for each airline's loyalty program.
The ranking relied upon more than 50 variables relating to the airline, loyalty program, and operating country.
The full ranking of the top 10 most valuable airline loyalty programs is as follows:
1. Delta Air Lines SkyMiles-$27.9 billion
2. American Airlines AAdvantage-$23.9 billion
3. United Airlines Mileage Plus-$22 billion
4. Southwest Airlines Rapid Rewards-$8.8 billion
5. Lufthansa, Austrian, Swiss, Brussels Airlines Miles & More-$7.9 billion
6. British Airways, Iberia, Are Lingus, Vueling - IAG Avios Programs-$7 billion
7. Air France, KLM, Kenya Airways, Tarom-$6.9 billion
8. Air Canada Aeroplan-$6.8 billion
9. Korean Air Skypass-$4.5 billion10.Cathay Pacific Cathay - $4.5 billion
10. Cathay Pacific Cathay-$4.5 billion
For the latest travel news, updates and deals, subscribe to the daily TravelPulse newsletter.
Topics From This Article to Explore
