Whether you can give a companion voucher to someone else depends entirely on the specific airline or credit card issuer's terms and conditions, as "transferability" varies wildly across the industry. For most major U.S. carriers like Delta, Alaska, or American Airlines, the voucher itself is technically non-transferable in terms of ownership—meaning you cannot simply hand the "code" to a friend to use for their own trip. However, most programs allow the primary account holder to use the voucher to book a flight for two other people, provided the primary member handles the booking process. The "companion" aspect usually implies the primary traveler must be on the itinerary, but some flexible policies allow you to book for two friends as long as you are the one redeeming it from your account. Always check if the "primary" must be one of the flyers, as some high-value vouchers are strictly tied to the account holder's participation in the actual travel.