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Amex Soars on Delta's Strong Card Performance
10 Oct
Summary
- American Express shares saw an increase on Friday.
- Delta Airlines reported strong growth in co-brand card spending.
- Delta expects over $9 billion from Amex this year.
American Express shares experienced a notable rise on Friday, buoyed by optimistic financial indicators from Delta Airlines. The airline's third-quarter performance highlighted robust growth in their co-branded card offerings with American Express.
Both new card acquisitions and spending activity on these co-branded cards surged by more than 10%. This strong engagement is a significant driver for the partnership. Delta Airlines has projected that it will receive in excess of $9 billion from American Express within the current year, reflecting the substantial value generated by their alliance.
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