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.
