I worked for American Airlines in the early 2000s when this campaign was rolled out American took seats out of many of the airplanes to offer more legroom as a selling point.  My supervisor handed me the pin in the plastic sleeve with the promotional card board holder and it has been part of my dad's Coca-Cola collection ever since. Santa's hat has a red flashing light that can be toggled on and off. The batteries needed to be replaced which seems reasonable after 20 years. The button on the back may need to be pressed for a few seconds to activate the the blinking lights.

The card is 3.5" x 5" and the pin back has a 3" diameter.  There is a bit of discoloration qt the top backside of the card and little to no wear on the pin back. It does look like the original batteries may have leaked a bit..  This would a great addition to anyone's Coca-Cola or American Airlines collection.