American Express Clients to Pay More
Bloomberg News
American Express Co. business travel customers will pay 3% to 5% more for an average airline ticket after U.S. carriers last week scrapped most travel agent commissions.
Small-business clients will see the largest increase as the biggest U.S. travel agency passes on its extra costs, a spokeswoman said. Companies that collect the commissions themselves through an agreement with American Express no longer will get those rebates.
American Express shares closed up 59 cents to $41.19 in NYSE trading.