ACCC looking to allow BP to take part in Qantas (ASX:QAN) rewards programs

The ACCC is proposing to grant authorisation allowing Qantas (ASX:QAN), BP Australia and independent BP petrol stations to collectively participate in the BP Rewards, Qantas Frequent Flyer and Qantas Business Reward programs, in a draft determination released today.

The ACCC proposes to grant a five-year authorisation for these arrangements, which include allowing BP to require BP-branded petrol stations to take part in the Qantas rewards programs.

This would be a condition of new BP petrol station franchise agreements and when existing agreements are renewed.

ACCC Commissioner Stephen Ridgeway says: “We don’t think the planned arrangements will have any significant negative impact on competition".

Qantas has the biggest loyalty reward scheme in Australia in terms of member numbers, and BP is a major petrol retailer.

Shares in Qantas (ASX:QAN) are trading 0.9 per cent higher at $7.09.
 
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Source: Finance News Network