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Delta’s longstanding partnership with American Express will continue at least another decade.

The two sides announced an 11-year renewal of their relationship that will continue Amex’s role as the exclusive issuer of Delta SkyMiles credit cards. The partnership between the two, which dates back to 1996, will now run through the end of 2029.

Credit card deals have become increasingly lucrative to airlines, allowing them to generate billions of dollars in revenue by selling miles or points to credit-card issuers. The issuers, in turn, can then offer the points or miles as a perk to customers using their cards.

Delta valued its “benefit from the relationship” to increase to about $7 billion annually by 2023. In 2018, Delta said the deal was worth $3.4 billion.

In a statement, Delta CEO Ed Bastian said the latest pact would allow the airline to work with Amex “to find innovative ways to offer greater opportunity to our customers as we grow our long-term partnership.”

“This is a true partnership steeped in common values, strong relationships and 23 years of history,” added Amex CEO Stephen J. Squeri. “We will be working together across our card, merchant and travel businesses to expand the partnership and believe this continues to be a very attractive platform for growth that delivers substantial benefits to our customers, our partners and our shareholders.”

In their joint statement, Delta and Amex touted the following items in extending their tie-up:

  • Ongoing investment in industry-leading benefits for Delta SkyMiles Credit Cards from Amex
  • Complimentary access to the award-winning network of Delta Sky Clubs around the world for Delta Reserve Card Members and Platinum Card Members from Amex
  • Delta participation in the Membership Rewards program from Amex, allowing those points to transfer into the SkyMiles Program

Featured photo by Alberto Riva/TPG

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