American Airlines in talks to pick Citigroup over rival bank Barclays for crucial credit card deal, sources say

Published On Sep 20, 2024, 9:00 AM

American Airlines is in negotiations to appoint Citigroup as its exclusive credit card partner, replacing Barclays. This change marks a strategic move to consolidate its financial partnerships and increase revenue from its co-branded credit card deals, which are very lucrative for airlines. American Airlines aims to enhance its loyalty program's revenue potential, especially as it competes with Delta's more profitable credit card partnership with American Express. The agreement is still pending and will require regulatory approval before it can be finalized.

Read full article

Stock Forecasts

AI prediction results, not representative of any investment advice.

C View C chart on TradingView

Positive

This potential move could enhance Citigroup's earnings from its partnership with American Airlines if the agreement goes through. For American Airlines, consolidating its credit card partnerships may lead to increased loyalty and spending, positively impacting its revenue streams.

Related News

Wall Street forms super teams to fight for $1.7 trillion private credit market

Sep 29, 2024, 10:03 AM

Big banks and private equity giants are joining forces to create new Wall Street super groups, with the goal of capturing a bigger slice of the $1.7 trillion private credit market.

APO

BAM

JPM

Citi warns some employees about misconduct by staff, contractors, memo says

Sep 27, 2024, 3:28 PM

Citigroup warned some employees about fraud and unethical behavior and said it is considering tighter scrutiny on work done by contractors to ensure the company is billed accurately, according to a memo seen by Reuters on Friday. Citi has struggled to fix weaknesses in its controls and risk management. "Citi has zero tolerance for fraudulent and unethical behavior from our employees, non-employees and suppliers," according to the internal Citi memo seen by Reuters.