Frequent flyer points are where they make their money. So much so that many airlines would run at a loss just flying passengers. All their partners hand over r

Frequent flyer points are where they make their money. So much so that many airlines would run at a loss just flying passengers. All their partners hand over real cash for points to give their customers, that often either expire or are never redeemed. I think it was the Economist that stated that airlines operate as unregulated banks. Flying people around is a secondary thing they do.