Industry estimates suggest that approximately 30% to 45% of all airline miles earned are never redeemed, a phenomenon often referred to in the industry as "breakage." With billions of miles issued every year through flights, credit card spending, and shopping portals, this represents a staggering amount of value left on the table. There are several reasons for this high percentage: many miles expire due to account inactivity (though more airlines are moving toward non-expiring miles in 2026), passengers may lose interest in small balances that aren't enough for a full flight, or the "redemption friction"—such as limited award seat availability and complex booking systems—discourages casual travelers. For airlines, this unredeemed debt is a significant financial liability on their balance sheets, which is why they often encourage smaller redemptions for magazines, gift cards, or merchandise, even though these typically offer much lower value-per-mile than actual flights.