According to Bloomberg United is considering selling a minority stake of its mileage program MileagePlus. United would be looking at selling 15% or less of the program. In 2020 United reorganized MileagePlus into it’s own subsidiary, valuing it at $22 billion before using it as collateral to raise $6.8 billion.
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In bad/average years, the mileage programs are all the airlines make money off of anyways. Pretty interesting stuff when you look into the financial details.
For a long time now the airlines have really been points programs with an attached flight operations department.
The mileage programs are the financial engineering, asset management. The flight operations are the tax shelters.
MileagePlusCoin anyone ?
I offer $27.50.
could it trigger the amex accidental credit?
I don’t know what this means but rest assured that I am only 15% or less outraged
Looks like your other lame jokes using your tens of aliases were not getting the upvotes so you resorted back to using the outrage crap
UAL stock has a market cap of about $14B. The MileagePlus is valued at $22B. That’s almost unbelievable…
This goes to show what the market thinks of air passenger transport as a business.
It’s unbelievable how the program has monetary value to the airlines but no actual cash value for the members
Except, of course, for when you get sent 1099s for earning the points.
Why airlines became banks https://youtu.be/ggUduBmvQ_4
I just watched this a couple weeks ago! Good stuff.
Same as Starbucks! An unregulated bank! They have on average $1.5B, yes, billion dollars, and growing, in people apps prepaid accounts, essentially giving Starbucks a zero percent loan at any given time for that much money!
https://www.eatmy.news/2021/04/how-starbucks-functions-as-unregulated.html
Removed
Removed
The miles business is far and away the more profitable operation. It’s like owning your own central bank and currency.
It is like crypto but with a real use.