Almost every major airline offers special rewards for frequent flyers. But they save the very best perks for the rarest kind of customer: the million-mile flyer.
Before the coronavirus pandemic, reaching this status was a realistic goal. People who traveled for business or work could log thousands of miles per month, and if you kept that up long enough, hitting 1 million miles wasn’t all that unusual. But that elite club won’t grow much in the coming years, as work travel is on the wane. Many companies are slashing their travel budgets, and others have realized that virtual meetings are just as suitable (and cost-effective) for their purposes.
The airline industry insists that business travel will come roaring back as soon as the coronavirus pandemic is over. But the problem is that this pandemic has changed so much about our day-to-day life that it’s unlikely anything will be as it once was. Even billionaire Bill Gates predicts that nearly half of all business travel will never return because there won’t be as much of a need for it. At the very least, the data suggest that 19% to 36% of all business trips will likely disappear, according to the Wall Street Journal.
If these predictions are right, the airlines (and the everyday travelers who depend on them) will take a massive financial hit. Before the pandemic, business travelers accounted for half of U.S. airlines’ revenue. This allowed airlines to cut ticket prices for leisure travelers looking for a singular trip. Take away a major source of revenue, and the airlines will almost certainly start raising the prices of tickets for everyone.
Moreover, if corporate customers aren’t traveling as frequently, the airlines will need to slim down their regular routes, which could leave fewer seats for non-business travelers. Add these factors to the massive losses the airlines have experienced over the past several months, and it’s clear the situation is dire.
The airlines remain hopeful, but already, 43% of business travelers said in an October survey that they expect to travel much less for work even after a COVID-19 vaccine becomes widely available. Some might be upset by this change. The perks accompanying business travel are certainly enviable, especially if you fly frequently. And after a year without any real activity or travel, a change in scenery sounds ideal.
But for others, less time in the air means more time at home. And after the year we’ve had, my guess is that many people would choose the comforts of home and family over the million-mile club any day.
