Credit-card cash reshapes US airline loyalty — and profit

try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Oil prices trim early losses as Iran supply fears overshadow Russia measures Oil prices float above $100 a barrel amid ongoing Iran war - what’s moving markets Hormuz oil flows down 97% from normal levels, Goldman Sachs says Gold prices rise but head for second weekly loss as Iran war spurs inflation fears 🧠 Upgrade to AI Insights (South Africa Philippines Nigeria) 🧠 Upgrade to AI Insights Credit-card cash reshapes US airline loyalty — and profit By Stock Markets Published 03/13/2026, 06:05 AM Updated 03/13/2026, 06:25 AM Credit-card cash reshapes US airline loyalty — and profit 0 C -3.38% JPM -1.61% LUV -7.74% AXP -1.34% DAL -2.03% UAL -4.58% ALK -6.46% AAL -4.44% By Rajesh Kumar Singh CHICAGO, March 13 - For years, the fortunes of U.S. airlines have been dictated by fares, fuel bills and how many passengers fill their cabins. Now, a growing share of their cash comes from co-branded credit cards, and that is increasingly showing up in how loyalty programs reward travelers. United Airlines said last month that, starting April 2, 2026, regular members without its card will earn only 3 miles for every dollar spent on eligible flights, while cardholders will earn at least 6. The airline also said regular members will need a qualifying United card to earn miles on basic economy tickets. American Airlines has stopped giving AAdvantage miles and Loyalty Points on basic economy tickets. Delta Air Lines , meanwhile, lets customers use spending on its co-branded American Express cards to help qualify for elite status. A Reuters review of filings by major U.S. airlines from 2021 through 2025 shows why. Banks pay carriers billions of dollars a year for miles and other payments tied to their loyalty programs — in some years rivaling operating income. That money is less tied to ticket sales, a distinction with fresh relevance as the Middle East conflict sends jet-fuel costs sharply higher and squeezes airline margins. B...