Tag: American Express

British Airways-owner International Airlines Group (IAG) has said that American Express would pay it 750 million pounds ($955 million) to renew their partnership, providing a welcome boost to the airline’s finances at a time when it is burning through cash. Since lockdowns have eased, flying has restarted, but pressure remains on airline companies like IAG because travel is still at less than half of pre-pandemic levels due to ongoing restrictions for some destinations and consumer worries, says Reuters. IAG’s finances have been strained by the pandemic, leading to media speculation that it could need to raise new equity. It said ... Read more