Originally Posted by
sam007
Can you explain me the statement "So in this quarter we just had a shift in mix, really, away from the amount that was being redeemed for airlines compared to what we have had in prior quarters"
I see without context this statement was not clear.
This answer was in response to an analyst's question on why the cost for MR is not more for Q2 compared to prior quarters. AXP's answer was that the number of points issued was slight more in Q2, but their $ per mile was slightly less. You multiply these two factors together to arrive at the accounting cost of MR program for Q2.
The $ per point was less, as they were saying in the quoted paragraph, was due to the fact that MR redemption mix has changed to less airlines miles.