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Avianca Group International (Abra Group) · Not listed; part of Abra Group · FY2025

Avianca LifeMiles by the numbers

Avianca does not report LifeMiles as a segment, but its accounts show what members hold: US$483.5 million of frequent flyer deferred revenue at the end of 2025, up 12% from US$432.9 million a year earlier, against group revenue of US$5.74 billion and net income of US$278 million. LifeMiles Ltd., the Bermuda company that runs the program, is wholly owned by Avianca Group International.

Written and reviewed by the Points Plug team. Last reviewed .

What Avianca Group International (Abra Group) reports

Loyalty revenue
Not disclosed
Avianca reports no separate LifeMiles revenue; redeemed flights sit in passenger revenue. Abra's combined loyalty gross billings for LifeMiles and Smiles were US$352 million in Q1 2026, up 22%.
Deferred revenue for unredeemed miles
US$483.5 million
Frequent flyer deferred revenue at Avianca Group International at 31 December 2025: US$201.0 million current and US$282.5 million non-current (note 18), up from US$432.9 million a year earlier.
Members
16 million
LifeMiles members and customers at the end of 2025, up more than 14%, per Avianca president Gabriel Oliva on Abra's full-year 2025 results call. Abra's two programs had about 46 million combined, and 47 million by March 2026.

Card partners and deals

  • Cardless issues the avianca lifemiles American Express Card and Elite Card in the US; First Electronic Bank is the issuing bank.
  • BAC Credomatic issues LifeMiles credit cards in Panama.
  • Abra said LifeMiles' co-branded credit card product helped lift combined loyalty gross billings 22% in the first quarter of 2026.
  • Capital One, Citi ThankYou and Marriott Bonvoy points convert to LifeMiles; the statements note members may also transfer miles in from other loyalty programs.

How the miles are accounted for

  • Miles earned on a flight are a separate performance obligation: Avianca defers the part of the fare that represents the miles as frequent flyer deferred revenue, and "passenger revenue includes flights redeemed under our frequent flyer program, including estimated breakage" (note 3).
  • Since 2025 Avianca values miles at Equivalent Ticket Value, the average stand-alone selling price of the tickets members redeem, adjusted for expected breakage; breakage comes from a statistical model of the share of miles that will not be redeemed before expiration.
  • For miles sold to financial partners, the contract is split into components such as marketing, advertising and brand value; only the miles component is deferred.

What it means

Abra Group, which owns Avianca and GOL, reports the two programs together: about 46 million members at the end of 2025 (16 million of them in LifeMiles, up more than 14%) and 47 million by March 2026, with loyalty gross billings of US$352 million in the first quarter of 2026, up 22%, helped by LifeMiles' co-branded card. Loyalty members made up about 41% of Avianca's passengers in 2025. Abra's combined frequent flyer liability, including GOL's Smiles, was US$957 million at the end of 2025.

Avianca changed how it values miles in 2025, moving to an Equivalent Ticket Value method, and Abra's auditor, EY, flagged the breakage estimate as a critical audit matter because it rests on models of future redemption. For a member the point is simple: the airline books every unredeemed mile at what an average redemption costs it, and recognises the miles it expects to lapse as revenue, which under an inactivity-based expiry rule is a real share.

What it means for your Avianca LifeMiles balance

A program that earns more from selling miles to banks than from flights has an incentive to keep issuing them, and the deferred revenue line is the airline's own estimate of what an average outstanding mile will cost it to honour. Compare that with published valuations and with what Points Plug pays to see where your balance stands.

Avianca LifeMiles finances: FAQ

How big is the LifeMiles liability?
US$483.5 million of frequent flyer deferred revenue at 31 December 2025 (US$201.0 million current, US$282.5 million non-current), up from US$432.9 million a year earlier, per note 18 of Avianca Group International's 2025 financial statements.
How many LifeMiles members are there?
16 million members and customers at the end of 2025, up more than 14%, according to Avianca president Gabriel Oliva on Abra Group's full-year 2025 results call.
Does Avianca report LifeMiles revenue?
No. Redemptions are included in passenger revenue and LifeMiles is not a reported segment. Abra gives combined loyalty gross billings for LifeMiles and Smiles: US$352 million in the first quarter of 2026.

Sources

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