Choosing the Share Item Location option creates a link that allows someone to see the location of a lost item when they open the link. The link can be opened on a non-Apple device, so people without an iPhone or Mac can help you find something that’s lost. Find My links that you share expire after a week and you can see how many people visited the link.
It remains to be seen if an airline employee will do anything with that link to try to find your lost luggage.