GE Capital, American Airlines Offer Corporate Travel Card

By Block, Valerie | American Banker, January 11, 1996 | Go to article overview

GE Capital, American Airlines Offer Corporate Travel Card


Block, Valerie, American Banker


GE Capital Services and the airline industry's trade association are launching a cobranded corporate charge card program with American Airlines Inc.

American is the first airline to partner with GE and the Air Travel Card, a venture of the Air Travel Association. Called the Asset Card, it will add the acceptability and functions of a MasterCard to American Airlines' corporate card, which has been used specifically for air travel. The Air Travel Card, the airline industry's business travel payment system, was established in 1936 by American Airlines. The card is issued by 25 carriers, including seven domestic ones, and is accepted by more than 200 airlines worldwide. More than 100,000 corporations use the card. Air Travel Cards racked up $8.5 billion in global billings in 1994. American Airlines, based in Fort Worth, Tex., is the first in the industry to adopt the added feature. GE Capital will offer the service to the six other U.S. airline issuers: Continental Airlines, Trans World Airlines, United Airlines, Northwest Airlines, USAir, and Delta Airlines. Eventually, the program could be rolled out to other countries. American said the card will be an addition to its existing Air Travel Card, rather than a replacement. Companies that opt for Asset cards will still be billed for airline charges, but employees will be billed individually for other travel charges, like meals and hotel rooms. American will provide detailed activity reports monthly through GE's capture process. American will receive interchange income for airline charges, and GE Capital will get the income from other charges. …

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