The current research attempts to examine the antecedent factors of perceived benefits (including monetary savings, exploration, entertainment, recognition, and social benefits’ quality)of airline loyalty programs affecting flight passengers’ perceived relationship investment and brand relationship qualities (including connection and partner quality) toward the airline program which in turn affects their loyalty. This research also tests the moderating effect of involvement on the relationships between the antecedents and influences toward airline loyalty programs. The results from a survey of 740 respondents indicate that the antecedent factors of recognition and social benefits have positive influences, respectively, on perceived relationship investment toward airline loyalty programs which in turn positively affects the brand relationship quality and loyalty. In addition, involvement plays an important moderating role on the relationships within the airline loyalty programs’ framework except the relationship between perceived relationship investment and partner quality. Implications for future research are discussed and limitations are noted.