To me, this reeks of desperation. It is not that different than AA
's buy-two-get-one-free offer of a couple of months ago (matched by other airlines) from BOS
& NYC. It is all an effort to bring more people on board but will probably not bring in much extra revenue.
I am not denying that it is a great marketing ploy but marketing costs money. The real question regarding generating cash comes down to (a) reeling in a passenger that might have chosen a rival airline to fly because of this offer or (b) making a sale to a passenger who hadn't planned to fly but decided to solely because of the offer. Does this offer accomplish either of those objectives? Probably not, at least not enough to negate the amount spent promoting this peculiar stunt.
This is something desperate airlines do. If Song had extremely high load factors, could they do this? No - that would be suicide. The redemption period is quite narrow (one can only guess at Song's load factors for September and October), and a lot of the winners probably won't even bother collecting their free trip because the flights they would actually want to take will be blacked-out. This does not sound like a recipe for repeat business to me.