British Airways Owner Gets $955 Million Boost From AmEx Deal
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British Airways owner IAG SA renewed an air-miles deal with credit-card giant American Express Co., swelling the group’s coffers as the coronavirus crisis weighs on travel demand.
The 750 million-pound ($955 million) multi-year contract with IAG Loyalty includes the pre-purchase of Avios points that American Express will utilize for its British Airways co-branded cards and rewards program, IAG said in a statement Friday.