I remember reading about how the major airlines now are more of a "bank that happens to have planes," due to the loyalty programs being worth significantly more than the airline. Delta Air Lines earned $8.2 billion from American Express in 2025, surpassing ticket sales revenue. [1]

I primarily use my favorite's airlines credit card because it gives me perks such as priority seating, and free checked bags. I am pretty certain that the credit card fees (that is passed on to the merchant) does not come close to the value that I gain for my credit card loyalty. It is a stupid game that I am forced to play, because the credit cards also provide other benefits, such as fraud protection.

I am wondering right now if "Spirit Air 2.0" even has a fighting chance if they are not able to subsidize operating costs by also being a credit card company.

[1] https://www.thestreet.com/personal-finance/delta-air-lines-m...