While the Southwest program Rapid Rewards might also have become the victim of some devaluations in recent years, it basically continues to provide solid value to regular Southwest guests. But the lack of airline partnerships has always been the weak point of the program, meaning that you can’t use the program for travelling outside of the US or that the program is of limited relevance if you don’t live in the US.
This will though now gradually change as Southwest Airlines has embarked on a strategy to engage in commercial partnerships with other airlines, including at the level of loyalty.
As such, Icelandair is expected to become the program’s first ever airline partner in 2025 on a mutual basis, with more to follow.