NEW YORK, NY—June 9, 2003 - American Express, the world’s leading corporate card issuer, and American Airlines, the world’s largest carrier, announced today an agreement to issue a new co-branded corporate card designed to help mid-size companies earn hard-dollar savings on business air travel.
The innovative American Express® Business ExtrAA® Corporate Card, issued by American Express and carrying American’s logo, will offer rebates and rewards for air travel spending on American at the company level. It will generate a quarterly cash rebate of up to 10 percent on eligible American Airlines travel. The Card also provides Business ExtrAA Bonus Points to companies, which can be redeemed for awards in American’s business loyalty program.
Companies can earn up to a 10 percent rebate on eligible American Airlines tickets charged to the Card, including most unrestricted fare classes (first, business and full coach) and select otherbusiness fares; discounted leisure fares are not eligible. The rebates will be sent to the company directly on a quarterly basis, accompanied by a statement detailing the eligible tickets. The Card will be available in third quarter 2003.
In addition, companies will be enrolled automatically as members in American’s Business ExtrAA program and earn Bonus Points for total spending with American on the Card. Business ExtrAA is a business loyalty program that rewards companies for their loyalty to American Airlines. Business ExtrAA allows companies to manage business travel while earning Points toward awards, including round-trip flight certificates, one-way upgrades on domestic or international travel, Admirals Club memberships and many more. Business ExtrAA member companies choose when to redeem their Points and how to distribute awards.
“The American Express Business ExtrAA Corporate Card will give cash back to mid-size companies on the fares business travelers need most - the flexible, last-minute fares,” said Anré Williams, Senior Vice President and General Manager, Middle Market for American Express Corporate Services.
“Introducing the American Express Business ExtrAA Corporate Card will provide tremendous value to companies that can earn Business ExtrAA Points toward award travel on American and get more for their travel dollar,” said Frank Morogiello, Vice President - Global Accounts and Sales Programs for American. “We’re giving companies what they value. You don`t have to be a Fortune 500 company to earn rewards like one.”
The Card will also help companies implement a true expense management program for all their business spending. It carries the core features that distinguish the American Express Corporate Card from other payment options, including flexible billing and payment options, robust reporting, controls for monitoring employee spending and pre-negotiated supplier discounts on everyday business spending, such as computer hardware, office supplies, wireless telephone services, and overnight shipping through the Savings at Worksm program.
Fast Track to Corporate Savings:
The Card addresses demand from mid-size companies for a program that delivers tangible, company-level savings for one of the largest items in their travel budgets. Many large firms enjoy corporate discounts when using the more flexible last-minute tickets, while mid-size companies have been at a competitive disadvantage. This Card helps level the playing field. The rewards for loyalty are significant. A company that charges $100,000 of travel on American to the Card can save as much as $10,000 annually, with the exact amount depending on the types of fares a company uses and any existing discounts. In addition, that same firm could earn as many as 12 free tickets per year through the Business ExtrAA program.
About American Airlines
American Airlines is the world`s largest carrier. American, American Eagle and the AmericanConnection regional carriers serve more than 250 cities in 41 countries and territories with approximately 4,300 daily flights. The combined network fleet numbers more than 1,100 aircraft. American`s award-winning Web site, AA.com, provides users with easy access to check and book fares, plus personalized news, information and travel offers. American Airlines is a founding member of the oneworld alliance.
About American Express
American Express is the leading issuer of corporate cards in the U.S. and worldwide. Through its Global Corporate Services business, the company counts nearly 70 percent of the Fortune 500, along with tens of thousands of mid-sized companies, as customers of its Corporate Travel, Corporate Card or Corporate Purchasing Card services. For more information on expense management tools from Corporate Services, visit http://www.americanexpress.com/corporateservices.
The American Express Company is a diversified worldwide travel, financial and network services company founded in 1850. It is a leader in charge and credit cards, Travelers Cheques, travel, financial planning, investment products, insurance and international banking.