Co‑brand card revenue reshapes U.S. airline loyalty — American adds gift‑card redemptions
Co‑branded credit‑card revenue is becoming a central profit driver for U.S. carriers, prompting loyalty‑program changes that favour cardholders and broaden non‑flight redemptions. American Airlines' move to let AAdvantage members redeem miles for major‑brand gift cards underscores how carriers are monetizing loyalty beyond air travel.