American Express and American Airlines to Issue Co-Branded Corporate Card with Discounts for Mid-Size Companies.Business Editors NEW YORK--(BUSINESS WIRE)--June 9, 2003 Card Provides Fast Track to Corporate Savings with Rebates, Discounts, Bonus Points American Express American Express (NYSE: AXP), sometimes known as "AmEx" or "Amex", is a diversified global financial services company, headquartered in New York City. The company is best known for its credit card, charge card and traveler's cheque businesses. , the world's leading corporate card issuer, and American Airlines American Airlines Major U.S. airline. American was created through a merger of several smaller U.S. airlines and incorporated in 1934. It continued to buy the routes of other airlines, becoming an international carrier in the 1970s; its routes include South America, the , 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(R) Business ExtrAA(R) Corporate Card, issued by American Express and carrying American's logo, will offer rebates and rewards for air travel spending on American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of at the company level. It will generate a quarterly cash rebate rebate, partial refund of the total price paid for goods or services. In the United States, rebates were historically given by railroads to favored shippers as a return on transportation charges. of up to 10 percent on eligible American Airlines travel. The Card also provides Business ExtrAA Bonus Points to companies, which can be redeemed re·deem tr.v. re·deemed, re·deem·ing, re·deems 1. To recover ownership of by paying a specified sum. 2. To pay off (a promissory note, for example). 3. 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 other business 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 one-way adj. 1. Moving or permitting movement in one direction only: a one-way street. 2. Providing for travel in one direction only: a one-way ticket. upgrades on domestic or international travel, Admirals Club memberships and many more. Business ExtrAA member companies choose when to redeem redeem v. to buy back, as when an owner who had mortgaged his/her real property pays off the debt. The term also refers to paying the amount due and all charges after a foreclosure (due to failure to make payments when due) has begun. 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 last minute n. The period just before a significant or concluding moment such as a deadline, due date, or scheduled event: always waits until the last minute to do his holiday shopping. fares," said Anre Williams, Senior Vice President and General Manager, Middle Market for American Express Corporate Services Activities that combine or consolidate certain enterprise-wide needed support services, provided based on specialized knowledge, best practices, and technology to serve internal (and sometimes external) customers and business partners. . "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 Office supplies is the generic term that refers to all supplies regularly used in offices by businesses and other organizations, from private citizens to governments, who works with the collection, refinement, and output of information (colloquially referred to as "paper work"). , wireless telephone services, and overnight shipping through the Savings at Work(SM) 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 per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. 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-size companies, as customers of its Corporate Travel, Corporate Card or Corporate Purchasing Card A Purchasing Card is a form of company credit card that allows goods and services to be procured without utilising a traditional purchasing process. Purchasing Cards are usually issued to employees who are required to operate within a set of company rules and guidelines which services. For more information on expense management tools from Corporate Services, visit http://www.americanexpress.com/corporateservices. The American Express Company is a diversified diversified (di·verˑ·s worldwide travel, financial and network services company founded in 1850. It is a leader in charge and credit cards, Travelers Cheques, travel, financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against , investment products, insurance and international banking. Note to editors: An image of the new card is available upon request in an electronic format. |
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