Delta Air Lines Inc. is the latest carrier to use its frequent-flier program to secure cash to weather the coronavirus pandemic, announcing plans to raise $6.5 billion backed by its SkyMiles program.
Delta said on Monday that it will issue a private-notes offering and enter a term loan facility backed by the program, its biggest fundraising yet as it looks to build its war chest. While Delta has raised $16.5 billion since the start of the pandemic, the carrier is still bleeding about $27 million in cash a day, Chief Financial…
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