American Airlines planes sit parked at LaGuardia airport on traditionally the busiest travel day, the day before the U.S. holiday of Thanksgiving, in the Queens borough of New York City, U.S., November 27, 2024.
Shannon Stapleton | Reuters
American Airlines has inked a long-awaited credit card deal with Citigroup, dropping its other partner, Barclays.
The airline said Thursday that it expects payments it receives from its co-branded credit card and other partners to grow 10% a year. In the 12 months through Sept. 30, American brought in $5.6 billion from these deals.
CNBC reported in September that the airline was in talks to pick Citi as its exclusive credit card partner.
American shares were up more than 6% in premarket trading after unveiling the new Citi deal and raising its revenue forecast for the fourth quarter.
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