Of miles redeemed for travel, 80% are redeemed for travel on United, while only 20% are redeemed for travel on partner airlines.97% of miles are redeemed for travel, while only 3% of miles are redeemed for non-travel rewards.29% of cash flow comes from the sale of miles directly to United.71% of cash flow comes from the sale of miles to third party partners.First of all, when it comes to miles being issued: This is where it gets really interesting to me. Over 50% of United’s flight revenue comes from MileagePlus members How MileagePlus miles are earned by members The program generated $1.8 billion EBITDA, which represents roughly 26% of United’s total adjusted EBITDA.The program generated $5.3 billion cash flow from sales in 2019, which represents roughly 12% of United’s overall revenue.50%+ of United’s flight revenue is from MileagePlus members.

United MileagePlus has over 100 million members.Generally speaking programs are tight-lipped about so many aspects of their membership, though a lot has been revealed here. United has a new 8-K SEC filing that reveals some fascinating information about the MileagePlus program. United is using the MileagePlus program to raise cash Newly revealed details about United MileagePlus Goldman Sachs Lending Partners LLC, Barclays Bank PLC, and Morgan Stanley Senior Funding, Inc., have committed to providing the financing, which is expected to close by the end of July 2020. United has announced plans to have $17 billion in liquidity at the end of the third quarter, thanks to an additional $5 billion of committed financing secured through the company’s loyalty program. United secures $5 billion from MileagePlusĪll major airlines are looking to build up cash reserves given the uncertainty at the moment, and loyalty programs can make great collateral, given what big businesses they are, and also given how profitable they typically are. United probably isn’t selling miles to partners for $0.02.How MileagePlus miles are earned by members.Newly revealed details about United MileagePlus.United secures $5 billion from MileagePlus.

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