JetBlue, Barclays said to be near deal to renew card partnership

JetBlue Airways and Barclays are nearing a deal to renew their years-long credit-card partnership, according to people familiar with the matter. Barclays has entered exclusive negotiations to retain the portfolio, though talks could still fall apart, according to one of the people. JetBlue opened up a so-called request-for-proposal process -- inviting other banks to bid on the portfolio earlier this year -- that drew interest from issuers including Goldman Sachs. “We are in the middle of contract negotiations with the finalist and I describe it as a meaningful improvement over existing economics of our deal and we’ll be prepared to discuss more in the coming weeks,” JetBlue President Joanna Geraghty said during the airline’s Q1 earnings call on Tuesday, without naming the finalist. “We believe this will help us close the gap in loyalty revenue to our peers over the next few years.”<br/>