American Express’ Travel Business Reports Gains

In first-quarter 2008, American Express reported that revenue from travel commissions and fees totaled $494 million, a 13 percent increase from the same period a year ago.

American Express said the revenue increase reflected a 16 percent increase in worldwide travel sales.

For the card business, American Express said volume related to T&E purchases rose 8 percent. Worldwide airline volume, which represented approximately 12 percent of total card volume during the quarter, increased 11 percent on a 4 percent growth in transactions and a 7 percent increase in the average airline charge.