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American Express announced the end of its co-branding agreement with Costco, saying it was "unable to reach terms that would have made economic sense for our Company and shareholders." It had also lost a similar agreement with Costco in Canada. And along TORONTO, Feb. 24, 2015 /CNW/ - An entertaining new benefit has just touched down at Toronto Pearson International Airport. The latest offering in the two year old partnership between american express canada and the Greater Toronto Airports Authority (GTAA After 16 years, American Express this month said it was unable to agree with Costco on renewal terms that made economic sense for the charge card company and its shareholders. A similar deal involving Costco's Canadian stores ended last year. Once the A Canadian First: New service gives travellers access to complimentary e-books and music TORONTO, Feb. 24, 2015 /CNW/ - An entertaining new benefit has just touched down at Toronto Pearson International Airport. The latest offering in the two year old "We are passionate about our passengers and are committed to enhancing their experience through partnerships with trusted brands, like american express canada," says Scott Collier, Vice President of Customer and Terminal Services at the GTAA. "The Cloud10 the end of American Express’s contract with Costco in Canada in 2014 and in the US in 2016 is likely to put significant pressure on the company’s earnings bottom-line. Following the loss of Costco, experts estimate a reduced spending to the tune of $80 .
Costco last year replaced American Express as its card partner in Canada with Capital One Financial Corp and MasterCard Inc. In afternoon trading, American Express shares were down $1.78, or 2.2 per cent, at $78.00 on the New York Stock Exchange. The entity’s move away from American Express was pre-empted by its subsidiary, Costco Canada which has already parted ways from an exclusive card-providing partnership with American Express. Bob Nelson, Costco Vice President of Investor Relations has .
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