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Amex launches joint business travel venture with Qataris
American Express has confirmed it is to launch a joint business travel venture with partners that include New York-based Certares International Bank and the Qatar Investment Authority.
Amex will separate its global business travel operations into a dedicated holding company in which it will hold a 50% stake and its partners will invest $900 million in return for the remaining 50%.
The company said the investment created additional capacity for products, technology and servicing capabilities.
It was originally mooted by American Express last September.
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Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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