Citi will become the sole issuer of American Airlines AAdvantage co-branded credit cards under a 10-year agreement.
As part of the deal, Citi will acquire the Barclays portfolio of co-branded AAdvantage credit cards and will begin transitioning cardholders to the Citi portfolio in 2026.
"Barclays cardmembers will continue to experience the same benefits they do today," American said. "More information about the transition will be made available in the coming months."
For the 12 months that ended in September, American earned approximately $5.6 billion of revenue from its co-branded credit cards. The company said it expects that figure to grow 10% annually, and that as revenue approaches $10 billion per year, it will increase annual pre-tax income by $1.5 billion.
Currently, Citi issues five co-branded AAdvantage Mastercards -- three for individual travelers and two corporate cards. Barclays' line of five AAdvantage Aviator Mastercards includes four for individuals and one corporate card.
As part of the enhanced Citi/American partnership, Citi cardholders who have accrued the bank's ThankYou reward points will gain the option to transfer them to their AAdvantage account.
American CEO Robert Isom said the partnership will lead to additional new benefits going forward.
Gary Leff, who closely follows co-branded airline credit cards in his View from the Wing blog, said that consumers who are interested in taking advantage of multiple signup reward offers for AAdvantage cards should act quickly. Individuals can currently get both a Citi and a Barclays AAdvantage card.
"This opportunity will likely be going away," Leff wrote.