airline industry created the Air Transport Association with its associated Air
In 1936, the
airline industry created the Air Transport Association with its associated Air
Travel plan and Air Travel Card, first offered by American Airlines. After a
$425 deposit, the card allowed travelers to “buy now, pay later” at a 15
percent discount. It was the start of the credit card industry. By the end of
the decade, all the major domestic airlines offered similar cards that could be
used on 17 different airlines. The association also created a standard airline
ticket that, with only minor changes, is still issued as the “paper” air
ticket.