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Air Canada's announcement to launch an own Frequent Flyer Programme (FFP) in 2020 did not come as true surprise, but marks nevertheless an important turning point in the industry. The full spin-off of loyalty programmes is dead. Well, it was never really alive.

Ravindra Bhagwanani, Managing Director of FFP consultancy Global Flight, has a look below the headlines. While no airline has ever followed the Air Canada model to spin off 100% of its loyalty programme, it seems clear that even less companies will be tempted to consider doing so after the Air Canada case - and for very good reasons.

Read the full analysis here.