Australia's third airline will finally launch its loyalty program with a staggered rollout from November. Points (earned on dollars spent) can be used to redeem flights. Status points progress members through Saphire, Emerald and Diamond status which come with lounge access, upgrades and other benefits. Rex plans for it to have a value of between $1 billion and $1.6 billion in 3 to 4 years (a big stretch).