I never thought about reusing a spent airbag for much of anything, but it does make sense to upcycle this kind of durable material if you can. Toronto-based Mariclaro makes them all into backpacks and carryalls that are quite different from others that I’ve seen.
Mariclaro also salvages truck tarps, seat belts, bicycle inner tubes, and boat sails to created their laptop sleeves, messenger bags, briefcases and bags. 99% of each bag comes from upcycled materials. The remaining 1% is the thread and logo.
Some of their stuff is pretty cool, including the laptop sleeves made from bicycle inner tubes. Some of the bags are even waterproof as a bonus.
Prices start at around $29(USD) for an iPhone sleeve and go up to $299 for the Airbag Back Pack.