Citigroup buys $1bn of airmiles

Posted:
18 Sep 2009, 09:40
by David
Citigroup buys $1bn of airmiles from AA
http://news.bbc.co.uk/1/hi/business/8261227.stm[:0]
David

Posted:
18 Sep 2009, 10:40
by Nevil30
Ahhh so we need to get Citigroup credit cards [:D]

Posted:
18 Sep 2009, 11:10
by Scrooge
A pretty normal trans action, Amex does this every now and again, the same with Barclays.
It should be noted that the airline loyalty programs are major revenue generating schemes and don't lose money.
It also explains how AA is paying for some of it's new fleet of aircraft.