International Airlines Group (IAG) has extended its worldwide commercial partnership with American Express.
Under the agreement American Express will make a payment to IAG Loyalty of approximately £750 million (US$968 million), a significant part of which is a pre-purchase of Avios points that American Express will utilise in the U.K. and world-wide for its British Airways co-branded cards and Membership Rewards Programme.
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IAG Loyalty is a subsidiary of International Airlines Group that offers a wide range of services to IAG airlines and business-to-business clients. These include the Avios reward currency for the British Airways Executive Club, Iberia Plus, Aer Club and Vueling Club customer programmes and loyalty management tools.