on Monday said that it will borrow $6.5 billion backed by its frequent flyer program, the third airline to tap its loyalty program to shore up liquidity as it struggles through the coronavirus crisis.
The airline plans to sell senior secured notes and enter into a new credit facility, both backed by its SkyMiles
program. SkyMiles will lend the net proceeds of the bond offering to Delta, although a portion will go to a reserve account.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inside Akon City, the $6 billion smart city Akon is building in Africa - Business InsiderAkon, the pop star behind hits like 'Smack That,' is masterminding a $6 billion smart city in Africa backed by a shadowy investor. Inside Akon City, where everything will be funded by 'Akoin' and the singer hopes to reinvent his legacy.
Read more »
Delta flight returns to gate, removes passenger refusing to wear mask'Delta requires masks on every flight for the safety of our customers and crew,' said an airline spokeswoman.
Read more »
Delta new airport security bins, jetbridge air filters: coronavirus - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
LA mayor on Trump's response to wildfires: 'This is climate change' not just about forest management'This is climate change.” Los Angeles Mayor Eric Garcetti pushed back on President Trump's frequent characterization of wildfires, like those currently ravaging the West Coast, as simply a forest management issue.
Read more »
LVMH Pulls Out of $16.2 Billion Deal with Tiffany & Co., Tiffany SuesThe acquisition, originally made last November, would have been the largest the luxury industry has seen.
Read more »
Gilead to buy cancer drugmaker Immunomedics in $21 billion deal
Read more »