NEW YORKDelta Air Lines will use its frequent flyer program to back up $6.5 billion in funding as the pandemic continues to buffet air travel.

Bonds and term loans linked to the funds will be secured by Delta’s SkyMiles program. SkyMiles IP plans to lend the net proceeds from the bonds and term loan to Delta, based in Atlanta, after depositing a portion of the proceeds in a reserve account.

Shares of Delta Air Lines Inc. climbed slightly in Monday premarket trading.

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