24th Jul 2020 09:22
(Alliance News) - International Consolidated Airlines Group SA on Friday renewed its commercial partnership with American Express, with the latter making a payment consisting largely of buying Avios points for its customers.
The multi-year worldwide commercial partnership will see American Express pay GBP750 million to IAG Loyalty, an IAG subsidiary, of which a significant proportion is a pre-purchase of Avios points. The points will be used by American Express in the UK for its British Airways co-branded cards and membership rewards programme.
IAG Loyalty offers a wide range of services to IAG airlines and business-to-business clients. This includes the Avios points which is used as a currency for the British Airways Executive Club, Iberia Plus, Aer Club and Vueling Club customer-loyalty programmes.
IAG shares were down 2.2% at 204.01 pence each in London early on Friday morning.
By Greg Roxburgh; [email protected]
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