Amex reports corporate travel sales stabilizing
January 26, 2010 |
Reflecting the depths reached by the corporate travel industry in 2009, American Express' global corporate travel sales shrunk 30 percent year over year to $14.6 billion. That slide, however, seems to have stabilized with Q4 performance reporting a more moderate 5 percent decrease compared with last year.
While its corporate travel segment awaits a return to growth, overall card member spending increases and positive credit and economic indicators spiked the company's overall performance numbers.
Amex reported a net income of $715 million during the quarter, a 198 percent increase over the fourth quarter of 2008
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