Which airline made history in 2008 by using its loyalty program (frequent flyer miles) as collateral to secure a $1 billion loan during financial difficulties?

Loyalty programs have revolutionized the transportation industry, particularly in aviation. These programs not only reward frequent travelers but have evolved into sophisticated revenue management tools and valuable assets for airlines. This trivia question tests your knowledge about a pivotal moment in airline loyalty program history that transformed how these programs are valued and leveraged in the transportation sector.

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American Airlines (AAdvantage program)
Delta Air Lines (SkyMiles program)
United Airlines (MileagePlus program)
British Airways (Executive Club program)