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Delta to use frequent-flyer program to back $6.5B in debt

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Delta Air Lines announced it would borrow $6.5 billion backed by its frequent-flyer program.

United Airlines announced a similar liquidity move in June, and American Airlines also plans to use its frequent-flyer program as collateral for a nearly $5 billion federal loan.

Airlines have been working to shore up liquidity as the coronavirus pandemic continues to economically damage the travel industry, CNBC reports.

Read more from CNBC.

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