LONDON: International Airlines Group (IAG) announces that it has signed a multi-year renewal extending its worldwide commercial partnership with American Express.

Under the agreements American Express will make a payment to IAG Loyalty of approximately £750 million, a significant part of which is a pre-purchase of Avios points that American Express will utilise in the UK and world-wide for its British Airways co-branded cards and Membership Rewards Programme.

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.

International Airlines Group (IAG) is one of the world’s largest airline groups with 598 aircraft flying to 279 destinations and carrying around 118 million passengers each year. It is a Spanish registered company with shares traded on the London Stock Exchange and Spanish Stock Exchanges.