Alaska Air Group Inc. (NYSE: ALK) and Bank of America (NYSE: BAC) announced a multi-year extension of their co-branded credit card agreement on April 20. The partnership, which has operated for more than 30 years, represents Bank of America's largest co-brand partnership.

The renewed agreement aims to make Bank of America the single issuer of all co-brand credit cards for the Atmos Rewards program. Alaska Air Group plans to increase investment in the Atmos Rewards brand, lounge programs, and credit card offerings, including new cards and updates to existing products.

"Bank of America has been a foundational partner to Alaska's growth over the last few decades," said Ben Minicucci, Chief Executive Officer of Alaska Air Group. "Together, they have helped us build the airline industry's most generous and valuable loyalty program."

Dean Athanasia, Co-President of Bank of America, stated the extension reflects their commitment to delivering value for cardholders while creating long-term value for both companies.

Remuneration from the co-brand card portfolio increased 10% in 2025, driven by the launch of the Atmos Rewards loyalty program and the Summit Visa Infinite card. The Summit card has exceeded acquisition and spend expectations.

The card portfolio expansion is expected to accelerate growth of Alaska's loyalty platform beyond the $150 million in profit outlined in the Alaska Accelerate strategy. The current credit card offerings include the Summit Visa Infinite card, which provides access to a 25,000-point Global Companion Award and eight Alaska Lounge day passes annually, and the Ascent Visa Signature card, which offers the Companion Fare for $99 plus taxes and fees.

The information is based on a press release statement from the companies.