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American Airlines Taps Rewards Program To Help Raise $7.5 Billion
PYMNTS.com says American Airlines is planning to use its frequent flier rewards program to help fund a portion of the $7.5 billion the company is looking to raise, The Wall Street Journal reported on Monday (March 8).
The air carrier said it was going to get a $2.5 billion term loan using its rewards program, AAdvantage, as collateral for the financing. American is also planning to issue $5 billion in bonds. The airline indicated that it would use the funds raised to pay....
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