The logic in your comment seems sound. However -according to the article in the OP- when this program was first created bank loans had very high interest rates. I can't verify the truth of this statement, so I have to take it on face value.
Also, don't forget that the low end of the lifetime unlimited flights program cost between $600k and $700k, and the high end (flights for two) cost a little more than one million USD in inflation-adjusted dollars.
To speak to your first two paragraphs:
It could be argued that AA could have discontinued the program in the 1990's or so... maybe they should have, I have no idea. But that would not have freed them from their existing obligations.
To speak to your third paragraph:
AA is being rather dishonest when they use the retail price of services to demonstrate the impact of this program. They really have to quote the actual cost, which -I'm sure- can be difficult to determine.
If one is attempting to stir up sentiment for one's decision to renege on a lifetime contract, I suspect that one would want to do as little honest analysis as possible. :P
Also, don't forget that the low end of the lifetime unlimited flights program cost between $600k and $700k, and the high end (flights for two) cost a little more than one million USD in inflation-adjusted dollars.
To speak to your first two paragraphs:
It could be argued that AA could have discontinued the program in the 1990's or so... maybe they should have, I have no idea. But that would not have freed them from their existing obligations.
To speak to your third paragraph:
AA is being rather dishonest when they use the retail price of services to demonstrate the impact of this program. They really have to quote the actual cost, which -I'm sure- can be difficult to determine.
If one is attempting to stir up sentiment for one's decision to renege on a lifetime contract, I suspect that one would want to do as little honest analysis as possible. :P