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7/24/2020, 9:14 AM (Source: TeleTrader)
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IAG, American Express extend £750M partnership

International Consolidated Airlines Group (IAG) announced on Friday the company has renewed its commercial partnership agreement with American Express worth £750 million.

IAG has suffered significant financial losses as a result of the coronavirus pandemic, reporting a drop of 13.4% year-on-year in the first quarter of 2020. It was one of the airline companies that filed a joint lawsuit over the British government's quarantine rule, with CEO Willie Walsh saying such a decision will hinder the recovery of the travel industry.

IAG was formed in January 2011 through the merging of British Airways and Iberia, the flag carriers of the United Kingdom and Spain.

Breaking the News / JR