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)

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