Find out how airlines quietly became banks

Some airlines—like American Airlines, which started the first modern airline loyalty program—have loyalty programs with higher valuations than the airline itself.

Many budget airlines rely on baggage charges and other extra fees to make money.

Southwest Airlines was profitable for nearly 5 decades, offering free whisky, cheap late-night tickets, and free-for-all seating allocation—despite how hard it is to make money running an airline.

Nearly 3 million people fly in and out of US airports every day—but not all of those passengers generate revenue for the airlines they purchase their tickets from.

Find out how airline mergers created some of today's largest airlines

Four airlines dominate the US commercial airline industry: Delta, United, Southwest, and American. Many of these large companies secured their top spots in the industry via a series of mergers and acquisitions starting in the 1970s, when American acquired Trans Caribbean Airlines.

Visualize the balance sheets of US banks

The US banking industry is the most profitable in the world, with loans and leases driving the lion’s share of those profits. In fact, at the end of 2022, 53% of all bank assets fell into the loan and lease category. This rich visualization makes sense of that and highlights how traditional banks operate in stark contrast from their not-for-profit credit union peers. See it here.

The drastically different seat tiers on airplanes are a prime example of 'price segmentation,' which is key to keeping airlines profitable.

Bank runs, explained

A major feature of the modern financial system is trust: if an institution loses it, customers will quickly withdraw deposits and stockholders will sell their shares. This digestible animated video looks into the nature and history of bank runs and...

See a visual of the largest airlines in the US by market share.

How banking works

To do big things, people often need more money. Banks jumpstart economic activity with loans paid back with interest, and when things are working well, both people and the bank make more money. Formed in the Middle Ages amid competing currencies in Italy, banks—from the Italian for bench, banco—helped stimulate that era's commercial revolution, a massive expansion in Mediterranean trade and development. Find out the ins and outs of banks in this quick explainer video.

See nine airplane models that transformed aviation

This visual guide jumps over the dawn of modern air travel and begins with the open-cockpit biplane flown by the first scheduled airline, the St. Petersburg-Tampa Airboat Line. (Some users may experience a paywall.)

Jet fuel is expensive—which is one reason why it's tough to make an airline profitable

Jet fuel is typically a commercial airline's second-largest expense, second only to labor. Oil prices can be volatile—there have been recent significant increases in jet fuel prices given the 2026 Iran conflict, for instance.

In 2024, US airports generated over $1B of revenue—partly due to overpriced airport food

Some in the airport industry argue that charging street prices in airport restaurants isn't sustainable because it's more expensive to run a business inside an airport.

Listen to an account of an 'airplane game' leader, a notorious, widespread illegal pyramid scheme that swept across the US in the 1980s.

Commercial air travel's early days: Flights were short, cold, depressurized, and generally comfortable

After World War II, airlines competed for their high-end passengers by offering cocktails, meals, and plush seats, cultivating the image of the elite "Jet Set." By the 1960s, air transport was completely changing global trade and offering big profits to companies able to ship via plane.

Learn about the bodies that govern the US commercial airline industry, such as the FAA

The Federal Aviation Administration (FAA) regulates US air travel, monitoring both safety and advancement. But despite deregulation in the 1970s, the industry has other governing bodies, too, including the US Department of Transportation and the TSA.

American Express intentionally targets wealthy cardholders, who spend higher amounts per transaction and tend to make more transactions than the average cardholder, thereby reducing the company's risk.

How the checking account has evolved into a platform of features rather than a product

The accounts act as an anchor for customer relationships that banks need to retain said customers. As fintech companies unbundle the checking account without technically being chartered banks, traditional banks face pressure to innovate the checking account experience.

Airbus is a rare European industrial success story that overtook a rival American firm

After World War II, the US dominated aviation, particularly Boeing. To compete, Europe's major industrial nations pooled resources to form Airbus, a customer-centric airplane manufacturer. Its A320 family of planes became the most popular in airliner history, leading to profitability in the 1990s. Amid Boeing's major hurdles in recent years, Airbus remains the industry leader.

Read about 'skiplagging,' a money-saving travel hack.

Listen to a podcast episode from 1440's editor in chief that explains how a credit card transaction works behind the scenes.

When you buy even something as small as a $5 latte, a global relay between banks and networks like Visa and Mastercard is triggered. It all started with a 1958 campaign from Bank of America that jump-started the credit card revolution.

Watch a video that visualizes what really happens inside a credit card network when you make a purchase.

Who actually pays for your credit card rewards?

In 2018, 92% of all credit card spending was made on a rewards card, which seems like a good deal to many who apply for rewards cards offering discounted flights, points, and more. But in actuality, the customers are often the ones who end up paying for the rewards in the grand scheme of things.

How AI is revolutionizing banking

Generative artificial intelligence has left no industry untouched, and banking isn’t an exception. Experts estimate that gen AI could add as much as $340B in value to the banking sector each year. For consumers, this involves new features to prevent fraud and customer service chatbots. This report dives into the revolution underway and seeks to define a “full stack” AI bank of the future. Read more here.

From bartering to banking, temples to electronic transactions, here’s banking has evolved significantly since ancient times

A few historical facts about banking (like that one day, not long ago, certificates of deposit were physical pieces of paper) may not surprise you. But did you know that the church was the original lender? And that Julius Caesar himself invented foreclosure?

100 years of passenger air travel: a visual guide

This interactive timeline covers the first 100 years of passenger air travel, which was created in 1925 when the U.S. Post Office allowed private airlines to start delivering mail.

Aviation expert breaks down the safest seat on an airplane

The bottom line is air travel is very safe—much safer than road travel. But you can always up your chances. So, here's one expert's take on the safest seat on an airplane.

Many airports have dedicated stores for luggage, despite most passengers having luggage with them already

This podcast episode argues that airport luggage stores exist due, in part, to the security measures implemented after 9/11, creating capitve audiences of travelers. Some argue that airport luggage store shoppers coming from places where luggage is more expensive could be purchasing luggage in international airports. Specifically, the episode traces airport history from the very beginning to today's luggage store in your local Terminal B.

Learn how stablecoins function in just 4 minutes

This video explains the basics of stablecoins in a beginner-friendly manner. It also dives a bit deeper into the larger stablecoin landscape, detailing, for instance, the many stablecoins backed by fiat currency other than the US dollar, like the euro, the Turkish lira, and the Singapore dollar.

Rewards credit cards can offer points, travel miles, and more

For every dollar that a cardholder spends on a rewards credit card, they can also receive benefits such as cash back, airline miles, and more. For many, rewards are the reason they make so many purchases on credit cards in the first place.

Modern examples of oligopolies include the airline industry

An oligopoly is a market structure dominated by a few key suppliers. In the US, as of 2021, just four airlines (Delta, United, Southwest, and American) controlled nearly two-thirds of all domestic flights, making the US airline industry one example of an oligopoly.

A British Airways pilot mapped every flight of his career into a data art series

James Harding logged every flight he had flown in a software program and rendered the results into 3D globe animations, charts, graphs, and more. You can view the visualizations here, along with career stat breakdowns and a description of his project.

Pan Am was once the largest international airline in the US—but it shut down in 1991 after a series of financial issues, beginning with increased operating costs and reduced demand driven by the oil crisis in the 1970s.

When modeling the fastest way to board passengers onto an airplane, research shows that random boarding is often faster than boarding in groups.

In 2013, American Express became the first credit card company to open an airport lounge

American Express opened its first airport lounge, the Centurion, in Las Vegas more than a decade ago. Since then, not only has American Express increased the number of lounges it has in airports across the country, but other credit card companies have also opened lounges.

Banks make money by loaning customer deposits and earning interest

This means the interest you earn on your deposits is lower than what the bank earns on the same amount. Banks often keep cash reserves (though a minimum requirement was rescinded in 2020) but generally invest in government bonds, corporate securities, and loans to other banks. During bank runs, depositors withdraw more than the bank has on hand.

Making sense of the complex logistics of product returns

Americans returned over $800B worth of stuff in 2022, more than the entire gross domestic product of some nations. This entertaining, in-depth video dives into the complex logistics of the reverse supply chain and how it works. Estimates peg the...

Credit unions, explained

Proponents of credit unions often point to the fact they’re not-for-profit cooperatives instead of for-profit businesses as a key selling point. This explainer dives into what this looks like in action—instead of pocketing the profits from interest rates, credit unions reinvest that money into the products and services they offer. For customers, this tends to create a more personal and community-oriented experience.

Credit card companies make money through interest, annual fees, and more

They also profit from interchange fees, the fee the retailer has to pay the credit card network in order to facilitate a transaction. The fee is typically between 1% and 3% of the transaction amount.

How ‘vulture’ hedge funds make money

Some hedge funds specialize in snapping up distressed assets, like failing newspaper chains, and further stripping down their operational expenses in a bid to make a profit from the initial capital outlay. Delve into how one secretive firm known for the practice operates—and what’s at stake for the broader economy.

The private credit industry offers nonbank loans directly to businesses, particularly privately held midmarket companies.

Many startup founders pull out-of-the-box stunts to get their businesses off the ground.

College budgets, explained

In this episode of the FutureU podcast, higher education experts Jeff Selingo and Michael Horn explore why so many colleges seem to be struggling financially. Hear how college budgets actually work, and why so many are unsustainable. It’s a crash course in revenue, expenses, and the big shifts schools need to make to survive.

Apple Pay is activated on more than 78% of US iPhones

As a result, some banks worry they could be losing ground to the tech company. As consumers continue to use Apple Pay instead of pulling out their physical debit card to pay for everyday items, some banks are fighting back in the digital wallet war.

Learn more about American Express' membership rewards

American Express is well known for its membership program that allows cardholders to earn points. These points allow members to earn extra benefits and rack up savings at places like hotels, airlines, and restaurants.

Budget airline Spirit announced its shutdown on May 2, 2026

After filing for bankruptcy twice, there were a multitude of reasons for the airline's shutdown, including an increase in jet fuel prices due to the conflict in Iran in the first half of 2026.

Explore a timeline of advancements in American aviation

From the Wright brothers' flight of the first powered plane in 1903 near Kitty Hawk, North Carolina, to SpaceX's debut of the Falcon 9 rocket in 2010 with reusable boosters, this interactive shows off the technological evolution of flight, from mechanical propulsion to ballistic spaceflight. (Some users may experience a paywall.)

Inside a FIRE follower's money diary

This podcast episode details a few days inside the bank account of a woman in Australia who set out to retire by age 35.

How universities manage their endowments

The CNBC video report explores how elite universities like Harvard handle their massive endowments, the ethical debates around their investments, and the tension between growing wealth and rising college costs. If you’re curious about where billions of dollars in higher education go, why tuition remains high despite huge endowments, or how student activism is pushing for ethical investing, this video offers a revealing, accessible look at the financial engines behind America’s top colleges.

Up to to $68M in coins ends up in American landfills each year.

Waste facilities and TSA say they collect thousands of dollars of discarded money per year. A Wall Street Journal reporter visited a waste facility and learned what you can do with your extra change.