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The Delta SkyMiles business model: what an airline can take and how to build it

Resources · Case study

Delta SkyMiles earns most of its value off the plane: American Express paid Delta $8.2 billion in 2025 for the co-branded card, according to Delta's 10-K. This guide explains how that model works, what an airline of any size can take from it and how to build it with Qurable.

Updated · 6 min read

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Case study note based on public information. Delta is not a Qurable client.

Public figures on Delta SkyMiles

Delta is not a Qurable client. These figures are public and each one carries its source.

  • $8.2Bpaid by American Express to Delta in 2025Delta 2025 10-K
  • ~35Maward tickets issued in 2025Delta 2025 10-K
  • 12%of revenue passenger miles were award travelDelta 2025 10-K
  • 2029the American Express agreement expiresPayments Dive, 07/14/2026

Airline and travel programs on Qurable

  • SKY Airline
  • CU Travel
Read the SKY Plus case

Key takeaways

  1. American Express paid Delta $8.2 billion in 2025 for the co-branded card, and Delta expects to reach about $10 billion a year.
  2. SkyMiles status is earned only through spend (MQDs), and card spend counts too.
  3. An airline can take its own card, points plus cash and everyday partners without becoming an issuer, with Qurable on top of its current program.

How it makes money

How Delta SkyMiles makes money.

Three pieces explain the model. Every figure comes from a public source, listed under the table on this page.

  • Co-branded card

    The card is the engine

    American Express buys miles for its cardholders and pays for the agreement. It is the program's largest revenue source off the plane.

    Public figure
    $8.2B in 2025; Delta expects about $10B a year.

  • Spend-based status

    Tiers are earned by spending

    Status is measured in MQDs, Medallion Qualifying Dollars, from flights, partners and the card. Some cards give an MQD head start each year, and members choose benefits as they move up.

    Public figure
    Silver from 5,000 MQDs; Diamond from 28,000.

  • Everyday partners

    Miles off the plane

    Uber, Starbucks and Airbnb award miles on everyday purchases. Miles never expire and combine with cash to pay for tickets.

    Public figure
    Uber replaced Lyft as a partner in 2025.

What your airline can take

Three pieces that work for an airline of any size.

You don't need Delta's size to use its model. These pieces are added on top of the program you already run.

  • Your own card, without being an issuer

    The card is the biggest lever. With Qurable you get a wallet and your own card; Qurable handles issuance, processing and compliance.

  • Status that counts off the plane

    Let card and partner purchases count toward tiers, with milestone rewards where the member picks the prize.

  • Points plus cash at checkout

    Let members combine miles and cash for tickets, bags and seats, decided inside the payment.

How to build it

What Delta SkyMiles does and how you build it with Qurable.

Each row is a piece of the model and how it is solved on top of your core and your PSS. Sources are under the table.

The Delta SkyMiles model and how to build it with Qurable
Delta SkyMilesWith Qurable
Co-branded cardWith American Express; the agreement expires in 2029A wallet and a card with your brand; Qurable handles issuance, processing and compliance
StatusSpend-based (MQDs): flights, partners and card; choice benefits when moving upTiers by spend, flights or partner purchases, plus milestone rewards where the member picks the prize
PartnersUber, Starbucks, Airbnb and others, each with its own agreementPartners connected through a single API, with every transaction reconciled in the ledger
Paying with milesMiles plus cash on Delta's site; miles never expirePoints plus cash at checkout: authorize, capture and reverse, decided in ~150 ms
DataMember profile within Delta's ecosystemOne profile with flights, partner purchases and redemptions; the engine picks the benefit for each member

Sources on Delta SkyMiles: Delta Air Lines, 2025 Form 10-K · Payments Dive, 07/14/2026 · Delta News Hub, SkyMiles changes (accessed 10/15/2026) · Delta News Hub, 05/19/2026 · NBC Miami, Delta and Uber (2025)

Delta, SkyMiles and American Express are trademarks of their owners. Delta is not a Qurable client. This page uses only public information available as of October 15, 2026. If you find anything outdated, write to us and we will fix it.

With Qurable

A layer on top of your program, no migration to start.

Qurable connects to your program core and your PSS with REST APIs, a sandbox and webhooks. You start with one front and add the rest in stages.

  • Points plus cash at checkout

    Authorize, capture and reverse miles for tickets and ancillaries, decided in ~150 ms.

    Loyalty at the POS and checkout

  • Partners through a single API

    Banks, hotels, car rentals and retailers award and redeem miles, with every transaction reconciled in the ledger.

    Loyalty coalition

  • Wallet and your own card

    A card with your brand: Qurable handles issuance, processing and compliance.

    Airline loyalty

Questions

What people ask about Delta SkyMiles.

Short answers with public data, and what your airline can take.

The clearest public figure is the card: American Express paid Delta $8.2 billion in 2025, according to its 10-K, and Delta expects to reach about $10 billion a year. The agreement expires in 2029.

With MQDs, Medallion Qualifying Dollars: Silver from 5,000, Gold from 10,000, Platinum from 15,000 and Diamond from 28,000. Spend on American Express cards counts too.

It can take the pieces: its own card, status that counts off the plane, everyday partners and points plus cash at checkout. With Qurable they are added on top of the current program, in stages, and the airline doesn't need to become an issuer.

No. This page analyzes SkyMiles' public model. The airline program running on Qurable is SKY Plus, by SKY Airline.

Last reviewed

Further reading

The overview guide, other programs and the case of an airline on Qurable.

Bring the model to your airline.

In a 30-minute technical session we review your program and show you which pieces Qurable adds on top of your core and your PSS.

Read the documentation