U.S. airlines are increasing fares due to strong demand for both business and leisure travel, with expectations for this trend to continue throughout the year. Airlines are leveraging their pricing power amid limited capacity growth, which has allowed them to maintain elevated fare levels even during winter months. Concurrently, American Express reported a record 13 million new card acquisitions in its Q4 2024 earnings call, surpassing Chase. The company indicated a shift from being a card-focused payments entity to a broader financial and lifestyle company powered by technology. American Express also announced plans to increase its quarterly dividend by 17% to $0.82 per share in 2025, alongside a $6 billion marketing expenditure in 2024, with expectations for further increases in 2025. The CEO of American Express acknowledged competition from fintech companies but expressed confidence in their market position.