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On how the US airlines work.
1. Operate at a massive loss
2. Get paid in kickbacks from the banks through their frequent flyer credit cards
American Express alone pays $8b/year to Delta Airlines.
Aug 7, 23:58
Airlines instead make it up with vast sales of frequent flyer miles to banks, who then reward credit card spenders with such miles.
The transfers are significant: American Express pays around $8bn a year to Delta airlines (Delta's entire operating profit for 2024 was $6bn)
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