So you’re worried about your Midwest Miles as the Milwaukee-based carrier nears a potential Chapter 11 bankruptcy?

Don’t be. At least that’s what Carol Skornicka, Midwest’s senior vice president and general counsel, told the Milwaukee Journal-Sentinal .A Chapter 11 filing would have “no impact on consumers. The entire effort would be on restructuring the airline’s finances” rather than on altering or eliminating the frequent-flyer program, which would become Midwest’s most effective means to communicate restructuring efforts to their best customers and retain their business.

We have every confidence that Midwest will not only pull out of reorganization, but will do so with the help of its frequent flyers. After all, both US Airways and United continued to focus on their loyalty programs not in spite of bankruptcy, but as a means to climb out of bankruptcy.

As reported last month, though, the dog-eat-dog mentality of the airline industry has seen AirTran, Northwest and Frontier strike into the Milwaukee market. While that certainly doesn’t bode well for the airline, loyalty-marketing experts at colloquy.com suggest that it does, in fact, bode well for frequent flyers.

With three competing airlines licking their chops over the potential demise of Midwest, it’s highly likely that one or all of them would offer to honor Midwest Miles in the worst-case scenario.