United and JetBlue announced a new partnership that will allow customers to earn and burn frequent flyer points on each other’s airline.

United Airlines and JetBlue announced a new partnership Thursday that will allow passengers to earn and spend frequent flyer miles between the airlines. The arrangement, which the airlines are calling Blue Sky (no relation to the similarly named startup social media platform) will eventually allow each carrier's elite frequent flyers to receive reciprocal benefits and will bring with it other business perks for both companies.