Citigroup (C) will become the exclusive issuer of the AAdvantage co-branded card portfolio in the US in 2026 under a new agreement with American Airlines Group (AAL), the companies said Thursday.
The companies said Citi agreed to acquire the Barclays (BCS) American Airlines co-branded card portfolio and will start transferring cardmembers to its portfolio in 2026.
Citi and American Airlines also said their more than 37-year co-branded partnership will be extended for the next decade.
Shares of American Airlines rose more than 7% in premarket activity Thursday, while Citigroup declined slightly.
Price: 16.00, Change: +1.12, Percent Change: +7.59
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