Wow, I had no idea the terms on these partnerships. Amex spending $4B on Delta miles in 2019 seems crazy. I wonder what sort of discount Amex (and other CC's) get on those miles vs retail buyers.
Also, they report total marketing spend of $2.9B in 2019 - seems like they could still be sitting on quite a few unused miles.
Also, they report total marketing spend of $2.9B in 2019 - seems like they could still be sitting on quite a few unused miles.