I tried posting this earlier in the week and it didn't get any traction, but user sleavey posted a great summary of the talk in that thread in case you don't have an hour, which is worth reading: https://news.ycombinator.com/item?id=13273314
I'm pretty sure the attack vector they discuss about finding boarding passes and changing the frequent flyer number attached to the itinerary is what the people who sell flights for 20-30% the cost[0] do. I've been wondering who that scam hurts for a while, the common thought is that they're using stolen credit cards but from what I understand the "services" are way too reliable to be based off stolen cards.
[0] http://krebsonsecurity.com/2012/01/flying-the-fraudster-skie...