IAG Renews Commercial Partnership With American Express
July 24 2020 - 2:45AM
Dow Jones News
By Anthony O. Goriainoff
International Consolidated Airlines Group S.A. said Friday that
it has signed a multi-year renewal with American Express which will
extend their commercial partnership.
The airline group--which houses British Airways, Iberia, and
Vueling among others--said that under the agreement American
Express will pay IAG Loyalty around 750 million pounds ($955.6
million), and that a significant part of this is a pre-purchase of
Avios points. American Express will use these in the U.K. and
worldwide for its British Airways co-branded cards and membership
rewards program, the company said.
IAG Loyalty is a subsidiary of IAG which offers a range of
services to the group's airlines and business-to-business
clients.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
July 24, 2020 02:30 ET (06:30 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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