Originally Posted by worldwidedreamer

•Under the New Co-Brand Agreement, the credit card partner is required to provide annual guaranteed advance payments over the contract term. Any unearned advance at the end of the calendar year is carried over to the following year until the contract expires. At the end of the contract, the Company has no obligation to refund any unearned advances to the partner. As of March 31, 2014, excess advances totaled $27.9 million, which the Company recorded as air traffic liability.