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.
The Amex accord comes after British Airways, the group’s largest carrier, said Wednesday it had agreed a deal with its pilot union to reduce pay while eliminating fewer posts than originally planned.