IAG Renews Commercial Partnership With American Express

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.