09 December 2008

Delta and American Express Continue Spending and Flying Benefits

Delta Air Lines and American Express announced a multiyear extension of their exclusive Co-brand Credit Card partnerships. The companies also agreed to extensions of their other partnership arrangements, including American Express Membership Rewards, merchant acceptance and travel.

As part of the broad-based partnership agreement, Delta will receive an immediate $1 billion boost to its liquidity from a purchase of SkyMiles. Delta expects to receive an additional $1 billion from contract improvements through 2010.

In return, American Express will be able to grow the value of its Co-brand Cards and the Membership Rewards program. American Express Cardmembers will be offered expanded options for booking travel on the worldÃ¢â¬â¢s largest airline. In addition, American Express will have the opportunity to increase merchant acceptance in more places in the Midwest region of the United States.

Ã¢â¬ÅâœAs Delta integrates the Northwest WorldPerks program into Delta SkyMiles, our extended agreement with American Express offers continued financial benefits for both companies,Ã¢â¬~ said Delta President Edward H. Bastian. Ã¢â¬ÅâœPairing the worldÃ¢â¬â¢s premier airline loyalty program with the world-class American Express brand continues a history of offering superior and innovative programs for our customers.Ã¢â¬~

Ã¢â¬ÅâœWorking with Delta since the early Ã¢â¬Ëœ90s has helped us strengthen Cardmember loyalty and build substantial amounts of business,Ã¢â¬~ said Jud Linville, president and CEO of American Express Consumer Services. Ã¢â¬ÅâœOur Delta Co-brand Cards are among our most successful products, and we are delighted to build on this position following DeltaÃ¢â¬â¢s recent acquisition of Northwest. This is a great opportunity to expand in the Midwest, extend popular Membership Rewards options with new routes, and enhance unique Co-brand Card offers like the ability to redeem miles for any seat, any time on the worldÃ¢â¬â¢s largest airline.Ã¢â¬~

In late 2009, Delta plans to merge Northwest WorldPerks with SkyMiles to create the worldÃ¢â¬â¢s premier airline loyalty program and a consolidated Co-brand Credit Card program. Northwest WorldPerks Co-brand Cardholders can continue to earn WorldPerks miles just as they do today on their U.S. Bank issued cards, and all WorldPerks miles earned prior to integration will be safe and transferred in full to Delta SkyMiles when the two programs are integrated.

Delta plans to continue its longstanding partnership with U.S. Bank through their existing corporate relationships including merchant acquiring, an expanded debit card program and corporate lending.

Details of the SkyMiles program are available at delta.com/skymiles.