Loyalty NZ, Flybuys Shut Down
Loyalty NZ and Flybuys are closing; IAG to acquire key assets and offer jobs to one-third of the staff for business enhancement.
May 30, 2024
Loyalty NZ and Flybuys Shutting Down
Loyalty NZ, the operator of the well-known coalition loyalty program Flybuys, along with Flybuys itself, are both set to close their operations. The program is backed by four major shareholders: Z Energy NZ, Bank of New Zealand, Foodstuffs, and IAG.
Asset Acquisition and Staff Offers
Amidst these closures, shareholder IAG has taken steps to acquire certain assets from Loyalty NZ. Furthermore, IAG has extended job offers to approximately one-third of the current Flybuys staff.
Future Plans for IAG
The acquired technology and the newly added team members will aid IAG in its ongoing business transformation efforts, aiming to significantly boost its operational capabilities.
