Matters have never been much worse for the airlines, and some suggest we're on the verge of a revolution in the industry.
Air Canada, United, and U.S. Airways filed for Chapter 11 bankruptcy protection in 2004. Delta and Northwest took the same step in September 2005.
What does this mean to those who have saved thousands or even millions of frequent flier miles through the years?
First, the bad news.
If an airline goes out of business, there is no legal guarantee that your mileage will be honored anywhere else.
Next, the good news.
In all the recent turmoil, few airlines have failed to continue redeeming mileage or have another airline honor the rewards, despite the economic hardships involved.
You have to go back to the days of Braniff and National to read of travelers who lost every mile when the final landing occurred.
All the same, there are people with half-million mile balances who are very nervous. It will be difficult--perhaps impossible--to use those miles in an advantageous way if the airline industry re-invents itself in the next year of so.
Those with fewer miles, but plans of a big trip or two next year, are also concerned.
What are your options? Click "next" for some ideas.
