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 Loyalty programs are surprisingly valuable to airlines — especially these four U.S.-based carriers. ViDI Studio / Shutterstock.com

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…

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