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MarketScreener Homepage  >  Equities  >  Nyse  >  American Express Company    AXP

AMERICAN EXPRESS COMPANY

(AXP)
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American Express : Announces Plans to Expand Centurion® Lounges in Two Major U.S. Airports and Prepares to Welcome Travelers with New Health and Safety Practices

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09/16/2020 | 10:04am EDT

  • AMERICAN EXPRESS TO SIGNIFICANTLY EXPAND AND ENHANCE EXISTING CENTURION LOUNGES AT NEW YORK’S LAGUARDIA AIRPORT AND LAS VEGAS’ MCCARRAN INTERNATIONAL AIRPORT
  • AMERICAN EXPRESS INTRODUCES NEW “CENTURION LOUNGE COMMITMENT” HEALTH AND SAFETY PROTOCOLS

Today, American Express (NYSE: AXP) announced plans to expand two of its signature Centurion Lounges and introduced The Centurion Lounge Commitment, a set of new health and safety protocols and practices, which will be implemented in all Centurion Lounges as they reopen (some starting in early October). The Centurion Lounge at New York's LaGuardia Airport (LGA) will relocate to a larger location in the brand new Terminal B, and as previously announced, the current Centurion Lounge at Las Vegas’ McCarran International Airport (LAS), will be expanded and redesigned.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200916005291/en/

Rendering of Centurion Lounge at New York's LaGuardia Airport (Photo: Business Wire)

Rendering of Centurion Lounge at New York's LaGuardia Airport (Photo: Business Wire)

“The health, safety and comfort of our Card Members and colleagues remains our top priority as we look to expand and reopen our iconic Centurion Lounges around the world,” said Alexander Lee, Vice President Travel Experiences & Benefits. “We believe travel is core to our Card Members’ lifestyles, and like them, we look forward to the day when we can travel the world again - we’re excited to welcome them back into our Centurion Lounges soon.”

Upgrading the Centurion Lounge Experience at LAS and LGA:

Renovations to The Centurion Lounges at New York's LaGuardia Airport and Las Vegas’ McCarran International Airport will be completed in 2021. The expanded lounges will feature a suite of amenities for Card Members to enjoy when they resume traveling.

  • The Centurion Lounge at LGA will double in size and relocate to a space post-security within the airport’s brand-new, state-of-the-art Terminal B. The new lounge will feature a family room, additional workspaces, private telephone rooms, and views of the New York City skyline.
  • The footprint of the first-ever Centurion Lounge, opened at LAS in 2013, will be expanded from nearly 9,000 square feet to over 13,400 square feet. The newly designed lounge will feature additional multi-purpose areas, new private telephone rooms, newly designed reception and workspace areas and more.

American Express is also working towards opening its newest lounge locations later this year in New York’s John F. Kennedy Airport, London’s Heathrow Airport and Denver International Airport.

Creating a Healthy and Safe Environment with The Centurion Lounge Commitment:

While our Centurion Lounges continue to be closed due to COVID-19, American Express is introducing The Centurion Lounge Commitment to further support the health and safety of Card Members and colleagues when the lounges reopen. According to the Amex Trendex*, a trend report from American Express, nearly 2 in 3 consumers say either health and safety policies and procedures (39%) or flexibility (25%) is most important as they look to book future travel.

Card Members will experience new health and safety practices such as socially distanced seating, reduced capacity, increased cleaning frequency, requirements to wear a face covering when entering the lounge, served food instead of buffets, and more. For a contactless check-in experience, Card Members can download the American Express® App and use the Mobile Check-in Feature. These practices will be re-evaluated on an ongoing basis to take into account Card Members’ needs and the requirements of state and local governments and health authorities. Learn more here: thecenturionlounge.com/reopening.

While some may not be ready to travel today, the Amex Trendex* found over half (56%) of consumers who typically travel domestically anticipate feeling comfortable traveling to a domestic destination within six months. American Express is evaluating when to reopen its Centurion Lounge locations based on several factors, including local COVID-19 case prevalence, and will be taking a phased approach, location by location. The company expects to reopen the Centurion Lounges at Seattle-Tacoma airport and Philadelphia International airport on October 5, 2020, with more locations to follow.

*Amex Trendex Methodology:
This online poll was conducted by Morning Consult poll between August 18-20, 2020 among a national sample of 2,000 general population travelers with a household income of at least $70K, and defined as adults (18+) who traveled by air at least once in 2019. Results from the survey have a margin of error of plus or minus 2 percentage points.

ABOUT AMERICAN EXPRESS

American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, instagram.com/americanexpress, linkedin.com/company/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.

Key links to products, services and corporate responsibility information: charge and credit cards, business credit cards, travel services, gift cards, prepaid cards, merchant services, Accertify, InAuth, corporate card, business travel, and corporate responsibility.

ABOUT THE CENTURION LOUNGE

The Centurion Lounge is the signature lounge program within the broader American Express Global Lounge Collection, which includes access to American Express Centurion Lounges, international American Express lounges, Delta Sky Club® for Card Members flying on Delta, Priority PassTM Select Lounges upon enrollment, Airspace Lounges, MAG U.S. Escape Lounges and Plaza Premium Lounges--a total of more than 1,300 lounges across 140 countries and counting.

Access to The Centurion Lounge is complementary and exclusive for Platinum Card Members, Centurion Members and Delta SkyMiles® Reserve Card Members. Platinum Card Members may enter with up to two travel companions at no additional charge. Centurion Members may enter with their immediate family or up to two travel companions. Platinum Card and Centurion Members may purchase access to The Centurion Lounge for additional guests for $50 each guest. Delta SkyMiles® Reserve Card Members may bring up to two guests at a per-visit rate of $50 per person, per location.

Location: Global

© Business Wire 2020

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Financials (USD)
Sales 2020 35 815 M - -
Net income 2020 2 665 M - -
Net Debt 2020 - - -
P/E ratio 2020 28,8x
Yield 2020 1,78%
Capitalization 78 008 M 78 008 M -
Capi. / Sales 2020 2,18x
Capi. / Sales 2021 1,96x
Nbr of Employees 64 000
Free-Float 99,9%
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Technical analysis trends AMERICAN EXPRESS COMPANY
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 27
Average target price 107,36 $
Last Close Price 96,88 $
Spread / Highest target 34,2%
Spread / Average Target 10,8%
Spread / Lowest Target -9,17%
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Managers
NameTitle
Stephen J. Squeri Chairman & Chief Executive Officer
Jeffrey C. Campbell Chief Financial Officer & Executive VP-Finance
Marc D. Gordon Chief Information Officer & Executive VP
Charlene Barshefsky Independent Director
Peter F. Chernin Independent Director
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