American Airlines Stock Surges on New, Exclusive Credit Card Deal With Citi | Global News Avenue

American Airlines Group’s stock (Asian Airlines Association) soared On Thursday, the carrier announced it had signed a new exclusive credit card partnership with Citigroup (C), which will take over Barclays Bank (BCS) share of the portfolio.

American Airlines and Citibank, which have collaborated in the credit card field for more than 37 years, signed a 10-year extension agreement to “become the exclusive issuer of the AAdvantage co-branded card portfolio in the United States by 2026.” So far, American has partnered with Citibank and British bank Barclays to issue credit cards.

“This agreement creates an innovative alliance between the Citi ThankYou and AAdvantage card programs and is designed to deliver incremental value to both companies and provide significantly expanded loyalty for AAdvantage members and Citi-branded card members,” the companies said. and rewards.”

Investors seemed to cheer the move. Citigroup shares and U.S.-traded shares of Barclays PLC were both up about 2% in recent trade, while American Airlines shares hit their highest levels since the summer of 2023.