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What an extraordinary deal; makes you see how FF miles are becoming almost a currency in themselves:
http://news.bbc.co.uk/2/hi/business/8261227.stm
AMR, the parent of American Airlines, has raised $2.9bn (£1.8bn) of new financing to help it through the global downturn in air travel.
The group said $1bn of the total came from advanced sales of frequent flyer miles to Citigroup bank.
If I'm not mistaken, Air Canada's Aeroplan is also an independant entity now as well
Extraordinary yes - but there is a connection to the thread about JAL. AA may use some of this money for a defensive shareholding in JAL.
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