M&ANew Zealand
IAG Acquires Flybuys Assets Amid Loyalty NZ Closure
Loyalty NZ and the coalition loyalty program it operates, Flybuys, are both closing. Shareholder IAG (one of four Flybuys shareholders along with Z Energy NZ, Bank of New Zealand and Foodstuffs) has agreed to acquire some of the assets and make offers to about one-third of the staff. IAG's planning to use the technology and newly recruited team to enhance its "business transformation activities".