I have a ton of mileage racked up on Delta from the SkyMiles credit card we’ve been using for years. Now that Delta has filed for Chapter 11 I’m wondering if I’m better off holding a ticket or the miles. Here’s what Delta just sent me
Dear Cardmember:
In response to the changing financial pressures of the airline industry, Delta Air Lines has announced that it is restructuring its organization under Chapter 11 of the U.S. Bankruptcy Code. During this reorganization period, Delta will remain open for business and will continue operations as usual. Delta has expressed its commitment to providing customers with a high standard of service, noting that none of the organizational changes will affect the SkyMiles® program.
Here’s what I found on FrequentFlier.com
There's an article on this site which goes into bankruptcy precedents — Pan Am, Eastern, Midway, TWA.
Bottom line: so far, members of large airline programs have made out OK when their airlines liquidated. The failed airlines' programs were absorbed by other carriers.
Of course, past performance is no guarantee…
The article is here http://frequentflier.com/bankruptcy.htm.
_________________
Tim Winship
Publisher
FrequentFlier.com
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