Category Archives for Airlines.
With securitizing frequent flyer programs the ‘new thing’ J.P. Morgan sees an opportunity to take smaller pieces of a program – rather than a whole thing – and turn them into tradeable commodities.
Why not take pieces of the loan and trade those, creating a more liquid market? Why not then package these into frequent flyer mutual funds, parts of various instruments backed by several airline programs? And why not make a leveraged bet on these?
Whether traveling on an award or a paid American Airlines itinerary, if you’re using a partner frequent flyer account number you aren’t supposed to receive extra legroom seats in coach any longer.
They’re reportedly in talks with the government of Norway over nationalization, since the earlier bailout the carrier received hasn’t been enough to keep them afloat while a government spokesperson confirms that the carrier is deemed to be “very important” although they’d anticipate government-as-shareholder would be a temporary arrangement.
The White House proposal is now $20 billion rather than $25 billion as they try to find common ground between their $1.6 trillion number and the House’s $2.2 trillion. They’re trying to find a deal with $5 billion for airline shareholders and creditors getting shaved in the process.
American Airlines flight attendant Breaunna Ross shared a video of her last announcement on her last flight before her expected furlough. She arrives at Dallas Fort Worth and shares she “didn’t hold it together lolllll.”
Another cabin crew member – who is also getting furloughed – recorded her last announcement. And then the two of them “held hands as [they] landed.”
Summer 2021 is likely to look a lot different, a lot more normal, than the world looks today. It’s as far out as you can book a ticket on most airlines. And the great thing about using miles in most programs is how flexible they are. Worst case scenario a usually modest fee, but some programs like American AAdvantage are waiving award cancellation fees entirely right now. So it’s a great time to book your next adventure!
Cathay Pacific is currently making business class awards widely available between the U.S. and Hong Kong for up to four passengers, from several gateway cities. This allows you to connect beyond Hong Kong to much of Asia.
Rapid tests that are administered downtown, take two hours for results, and cost $135 isn’t the sort of advance we’re seeing elsewhere.
A passenger taped this United flight attendant making his last announcement prior to his expected furlough. This crewmember has been flying for United for two years. He chokes up asking the people on his flight to come back to United for their travels “so that we can come back.” And that’s where I really choke up myself.
When airlines gave the government a stake in their businesses, effectively partial nationalization, they created an incentive for the government to continue bailing them out to protect and grow that very stake.
Pumping in another $25 billion makes Secretary Mnuchin’s stock warrants, obtained for bailouts, look better – like he negotiated a ‘win’ for taxpayers.
American Airlines closed on a $5.5 billion government-subsidized loan last week. It can be increased to $7.5 billion. Six more airlines though have closed on loans under these conditions: United Airlines, Alaska Airlines, Frontier Airlines, JetBlue, Hawaiian Airlines, and SkyWest. Treasury didn’t immediately release the amounts borrowed by each airline, or the collateral used.
Both Democrats and Republicans are calling for $25 billion in additional subsidies, under the guise of protecting workers (although that portion costs less than 10% of the total).
Gary Leff is one of the foremost experts in the field of miles, points, and frequent business travel -- a topic he has covered since 2002.
Co-founder of frequent flyer community InsideFlyer.com, emcee of the Freddie Awards, and named one of the "World's Top Travel Experts" by Conde' Nast Traveler (2010-Present) Gary has been a guest on most major news media, profiled in several top print publications, and published broadly on the topic of consumer loyalty. More About Gary »
