The 4 Most Valuable Airline Loyalty Programs in 2023

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Happy woman ready to travel
ViDI Studio /

Frequent fliers enjoy airline loyalty programs for the perks they offer. But the airlines themselves likely love these programs even more.

Loyalty programs are surprisingly valuable to airlines. In fact, they are “some of the most lucrative assets on airlines’ balance sheets,” according to On Point Loyalty, a global advisory firm focused on loyalty strategy and finance.

On Point Loyalty works with leading airlines, technology providers, financial institutions and investors to help them “shape and realize their loyalty vision.”

Recently, On Point Loyalty analyzed 170 airlines from around the world and ranked airline loyalty programs in terms of their valuation by using publicly available data and the organization’s “proprietary models and insights.”

According to the On Point Loyalty analysis, following are the most valuable airline loyalty programs in the world.

1. SkyMiles

Delta Air Lines
Tupungato /

At an estimated valuation of $27.9 billion, Delta Air Lines SkyMiles program is the most valuable airline loyalty program in the world, according to On Point Loyalty.

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2. AAdvantage

American Airlines
Santiparp Wattanaporn /

American Airlines AAdvantage is the runner-up among all worldwide airlines, with its loyalty program worth an estimated $23.9 billion.

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3. MileagePlus

A United Airlines airplane takes flight
Philip Pilosian /

United Airlines MileagePlus takes third place in the rankings, at an estimated valuation of $22 billion.

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4. Rapid Rewards

Southwest Airlines
Eliyahu Yosef Parypa /

Southwest Airlines Rapid Rewards program is the fourth-most valuable in the world. But at $8.8 billion, this airline loyalty program’s estimated worth is far below the others on this list.

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