Tue09292020

Robins Global News & Noticias



Presidential Debates | COVID-19 Map Tracker | COVID-19 News Features


  • Career Exam Study
    Career Exam Study
  • E-commerce Guide
    E-commerce Guide
  • Dropshipping Guide
    Dropshipping Guide
  • Microsoft Exam
    Microsoft Exam
  • IT Career News
    IT Career News

RobinsPost News Network

+ Larger Font | - Smaller Font
Share

Consumer Daily Reports

Consumer News: Delta becomes fourth major airline to secure loan with frequent flyer miles

Photo
Photo (c) Gabriel Ramos - Getty Images
Delta Air Lines is going to use its frequent-flier SkyMiles program to secure $6.5 billion in cash so it can make it through the COVID-19 pandemic.

While it seems like an unusual use of collateral, Delta isn’t the first airline to take this route. In recent months, United Airlines, American Airlines, and JetBlue all announced plans to do the same.

Delta has been brutally honest about its financial situation. Officials stated that the company was sitting on about $16 billion in cash but burning through somewhere in the neighborhood of $27 million a day. At that rate, its coffers would be bare in less than two years. 

Airlines and banks both win

It’s not only a good deal for the airlines, which can quickly net billions of dollars, but also for banks that can turn the miles into perks for their own credit card customers.

Frequent-flyer programs “are really the golden goose of the airlines. They’re the reason why North American airlines have historically...only had about 20 percent of global capacity but half of global airline profit,” said Morningstar equity analyst Burkett Huey in an interview with the Financial Times.

Huey went on to say that the miles-for-money swap is one of the most aggressive moves he’s seen so far.



Posted: 2020-09-14 17:26:48

Get Full News Story On Consumer Affairs


Listen to this article. Speaker link opens in a new window.
Text To Speech BETA Test Version.



YouTube Consumer News Playlists

Consumer Video: Wireless Router & Mesh Network Buying Guide | Consumer Reports


Related Videos On: Wireless Router & Mesh Network Buying Guide | Consumer Reports

Published: 26th Sep 2020 02:00:06   By: Consumer Reports

Consumer Video: 2020 Hyundai Sonata Hybrid; EV Pickup Trucks; Volkswagen ID.4 | Talking Cars #274


Related Videos On: 2020 Hyundai Sonata Hybrid; EV Pickup Trucks; Volkswagen ID.4 | Talking Cars #274

Published: 25th Sep 2020 04:00:28   By: Consumer Reports

Consumer Video: 2021 Chevrolet Tahoe First Impressions; Tesla Full Self-Driving Review | Talking Cars #273


Related Videos On: 2021 Chevrolet Tahoe First Impressions; Tesla Full Self-Driving Review | Talking Cars #273

Published: 21st Sep 2020 04:30:01   By: Consumer Reports

Consumer Video: Camping Tip: How to Fold an Air Mattress Like a Pro | Consumer Reports


Related Videos On: Camping Tip: How to Fold an Air Mattress Like a Pro | Consumer Reports

Published: 18th Sep 2020 11:00:04   By: Consumer Reports

Consumer Video: How to Clean Mattress Stains | Consumer Reports


Related Videos On: How to Clean Mattress Stains | Consumer Reports

Published: 15th Sep 2020 11:00:10   By: Consumer Reports

Car Video: Toyota 86 vs Supra 2.0 - Step Brothers - TV Season 7 Ep.4 | Everyday Driver


Related Videos On: Toyota 86 vs Supra 2.0 - Step Brothers - TV Season 7 Ep.4 | Everyday Driver

Published: 24th Sep 2020 08:20:56   By: EverydayDriver

Car Video: Porsche Cayman Generations (987,981,718) compared - Which is best? - TV Se4 Ep.2 | Everyday Driver


Related Videos On: Porsche Cayman Generations (987,981,718) compared - Which is best? - TV Se4 Ep.2 | Everyday Driver

Published: 17th Sep 2020 07:34:50   By: EverydayDriver

Car Video: Quattroporte and Phaeton - Cost to own old Luxury - Big Sedan Challenge #7 | Everyday Driver


Related Videos On: Quattroporte and Phaeton - Cost to own old Luxury - Big Sedan Challenge #7 | Everyday Driver

Published: 10th Sep 2020 07:03:16   By: EverydayDriver

Car Video: Corvette Z06, C5, C6, C7, Compared - What you need to know - TV Season 4 Ep. 1 | Everyday Driver


Related Videos On: Corvette Z06, C5, C6, C7, Compared - What you need to know - TV Season 4 Ep. 1 | Everyday Driver

Published: 27th Aug 2020 07:15:01   By: EverydayDriver

Car Video: Quattroporte and Phaeton - Top Speed on the Salt Flats! - Big Sedan Challenge #6 | Everyday Driver


Related Videos On: Quattroporte and Phaeton - Top Speed on the Salt Flats! - Big Sedan Challenge #6 | Everyday Driver

Published: 13th Aug 2020 07:59:45   By: EverydayDriver

Product Review Video: Google Pixel 5: What to expect


Related Videos On: Google Pixel 5: What to expect

Published: 28th Sep 2020 07:27:34   By: CNET

Product Review Video: Xbox Series X hands-on preview: Quick Resume is a game-changer


Related Videos On: Xbox Series X hands-on preview: Quick Resume is a game-changer

Published: 28th Sep 2020 01:00:12   By: CNET

Product Review Video: Sony Xperia 5 II review: It's incredible


Related Videos On: Sony Xperia 5 II review: It's incredible

Published: 28th Sep 2020 07:00:09   By: CNET

Product Review Video: This company prints and ships houses


Related Videos On: This company prints and ships houses

Published: 27th Sep 2020 12:00:13   By: CNET

Product Review Video: From cringe to hilarity: The most epic tech demo fails


Related Videos On: From cringe to hilarity: The most epic tech demo fails

Published: 26th Sep 2020 12:00:07   By: CNET

FTC Video: FTC Hearing: Panel Discussions on the Role of Notice and Choice... - April 10, 2019 - Session 1


Related Videos On: FTC Hearing: Panel Discussions on the Role of Notice and Choice... - April 10, 2019 - Session 1

Published: 22nd Jul 2020 07:51:42   By: FTCvideos

FTC Video: FTC Hearing: Remarks by FTC Commissioner Rebecca Kelly Slaughter followed by...- April 12 Session 2


Related Videos On: FTC Hearing: Remarks by FTC Commissioner Rebecca Kelly Slaughter followed by...- April 12 Session 2

Published: 22nd Jul 2020 07:39:43   By: FTCvideos

FTC Video: FTC Hearing: Emerging Competition, Innovation, and Market Structure - Nov. 14, 2018 - Session 2


Related Videos On: FTC Hearing: Emerging Competition, Innovation, and Market Structure - Nov. 14, 2018 - Session 2

Published: 13th Jul 2020 04:40:54   By: FTCvideos

FTC Video: FTC Hearing: Economics of Online Advertising; Competition and Consumer...- Nov. 7, 2018 - Session 3


Related Videos On: FTC Hearing: Economics of Online Advertising; Competition and Consumer...- Nov. 7, 2018 - Session 3

Published: 10th Jul 2020 08:25:27   By: FTCvideos

FTC Video: FTC Hearing: Remedies for Competition Problems in Data Markets - Nov. 7, 2018 - Session 2


Related Videos On: FTC Hearing: Remedies for Competition Problems in Data Markets - Nov. 7, 2018 - Session 2

Published: 10th Jul 2020 06:19:04   By: FTCvideos

DIY Video: Dr Harry Visits Rottnest Island to Meet the Local Wildlife | Great Home Ideas


Related Videos On: Dr Harry Visits Rottnest Island to Meet the Local Wildlife | Great Home Ideas

Published: 29th Sep 2020 12:30:04   By: Great Home Ideas

DIY Video: Three DIY Jobs Around the House You Should Tackle This Weekend | DIY | Great Home Ideas


Related Videos On: Three DIY Jobs Around the House You Should Tackle This Weekend | DIY | Great Home Ideas

Published: 29th Sep 2020 04:52:35   By: Great Home Ideas

DIY Video: This Garden Is Full of Autumn Colour & Inspiration | GARDEN | Great Home Ideas


Related Videos On: This Garden Is Full of Autumn Colour & Inspiration | GARDEN | Great Home Ideas

Published: 27th Sep 2020 12:30:00   By: Great Home Ideas

DIY Video: Try this Flat Pack Hack to Make a Tetris-Inspired Bookshelf | DIY | Great Home Ideas


Related Videos On: Try this Flat Pack Hack to Make a Tetris-Inspired Bookshelf | DIY | Great Home Ideas

Published: 26th Sep 2020 12:30:12   By: Great Home Ideas

DIY Video: How to Cook Lamb Backstrap | FOOD | Great Home Ideas


Related Videos On: How to Cook Lamb Backstrap | FOOD | Great Home Ideas

Published: 25th Sep 2020 12:30:01   By: Great Home Ideas

Business Video: U.S. consumer confidence beats expectations in September


Related Videos On: U.S. consumer confidence beats expectations in September

Published: 29th Sep 2020 07:35:19   By: Bloomberg Markets and Finance

Business Video: Borgata President Putting Safety First Amid Pandemic


Related Videos On: Borgata President Putting Safety First Amid Pandemic

Published: 29th Sep 2020 07:11:26   By: Bloomberg Markets and Finance

Business Video: Hercules Investments CEO Expects Big Selloff in Stocks


Related Videos On: Hercules Investments CEO Expects Big Selloff in Stocks

Published: 29th Sep 2020 07:00:26   By: Bloomberg Markets and Finance

Business Video: 100K New York Businesses Will 'Disappear': Bankruptcy Lawyer


Related Videos On: 100K New York Businesses Will 'Disappear': Bankruptcy Lawyer

Published: 29th Sep 2020 06:27:44   By: Bloomberg Markets and Finance

Business Video: Why Hedge Fund Hite Is Betting Against Fossil Fuels


Related Videos On: Why Hedge Fund Hite Is Betting Against Fossil Fuels

Published: 29th Sep 2020 05:20:51   By: Bloomberg Markets and Finance



Related News Stories From The Web And More

Related Bing News Search Results

Consumer News: Delta becomes fourth major airline to secure loan with frequent flyer miles | Consumer Daily Reports | RobinsPost News Network - Newscast

Coronavirus News: Regular Updates on COVID-19’s Impact on the Airline Industry

Thu, 24 Sep 2020 17:00:00 GMT

Starting at CAD$2,000 per month, the flight passes are available at three levels, allow booking up to one hour prior to departure and earn a fixed number of Altitude Qualifying Miles points ... and ...

US airlines reveal profitability of frequent flyer programmes

Tue, 15 Sep 2020 21:00:00 GMT

Airline frequent flyer programmes began in the 1980s as a marketing tool to inspire brand loyalty among travellers, and have evolved into a lucrative source of cash. Airlines sell miles to banks ...

Delta Air Lines pledges loyalty programme to raise $6.5bn

Tue, 15 Sep 2020 15:01:00 GMT

Delta Air Lines has turned its SkyMiles frequent flyer programme into a separate subsidiary ... senior secured notes and a senior secured term loan, in the latest example of US carriers getting ...

Delta becomes fourth major airline to secure loan with frequent flyer miles

Mon, 14 Sep 2020 10:30:00 GMT

Photo (c) Gabriel Ramos - Getty Images Delta Air Lines is going to use its frequent-flier SkyMiles program to secure ... the miles into perks for their own credit card customers. Frequent-flyer ...

Delta launches $6.5 billion debt deal backed by frequent flyer program

Mon, 14 Sep 2020 04:19:00 GMT

The airline said it would use the loyalty program as collateral to secure the new loans and issuance ... Delta will not pursue a $4.6 billion federal loan available under the Coronavirus Aid ...

Related News Story Videos From Youtube






Blow Us A Whistle

Comments (Whistles) Designed By Disqus




Company Information

Official Content Providers











PRIVACY POLICY

We recommend Firefox 3 (and above), Edge, and Chrome for dynamic performance.
© 2008-2020 RobinsPost (The Bird's Eye View Company) All rights are reserved.
RobinsPost provides links to news sites based on their RSS feeds.
All trademarks, copyrights, videos, photos and logos are owned by news sources.
News stories, videos and live streams are from trusted sources:
Bing News, Google News, Faroo News, NewsApi.org and YouTube Search Results.
ROBINSPOST Is Proudly Made In America.
Where Quality, Safety and Service Comes First.