Summary
As U.S. airlines struggle to recover financially, the credit- card industry is playing two contradictory roles: savior and nemesis.
Credit-card companies have a stake in seeing airlines survive since they are intertwined with the carriers not only via frequent- flier programs and co-branded credit cards but also because of the billions of dollars of ticket sales racked up on plastic each year. But they don't want to get stuck with the bill if travelers who have booked flights on distressed airlines start demanding refunds.See the full content of this document
Extract
Credit Cards Struggle Along with Airlines
As a result, credit-card companies are finding themselves in the position of giving with one hand and taking with the other. For instance, at the same time that American Express Co. was extending $350 millio...
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