Air Miles 'threaten dollar's dominance' - Report

US - Air Miles currently in circulation are said to be worth $500 billion - making them the second biggest "currency" after the dollar.

At its current rate of growth the stock of miles could overtake the dollar within two years.

The figures were calculated by the Economist, which reports that because there are so many unredeemed vouchers it will get harder for customers to secure the flights of their choice.

World currency

American Airlines was the first airline to launch a loyalty programme,

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