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ICICI Bank and Kingfisher Airlines launch co-branded credit card

ICICI Bank and Kingfisher Airlines launch co-branded credit card

Author | exchange4media Mumbai Bureau | Thursday, Aug 04,2005 8:30 AM

ICICI Bank and Kingfisher Airlines launch co-branded credit card

Just a few months into its operations, business baron Vijay Mallya’s Kingfisher Airlines has entered into an agreement with ICICI Bank, India’s second largest bank, to create a co-branded credit card that will allow its members a host of privileges and would also serve as an incentive to become loyal travellers of Kingfisher Airlines.

The target consumer for Kingfisher Airlines is the frequent-flying corporate traveller who seeks delight out of his flying experience. The airline's offering is in line with the expectations of the globally aligned Indian, who has high propensity to spend.

This consumer is also the right potential target for ICICI Bank's premium credit card offerings and hence, the fit between the two brands is strategically sound.

Elaborating on the tie-up Dr Vijay Mallya, Chairman and Managing Director, Kingfisher Airlines Ltd, said, “Kingfisher Airlines is the embodiment of the modern, global Indian. We are out to re-define the air travel industry in India by offering never-before value to the Indian air traveller. Ranging from our brand new aircraft to the unique Kingfisher Class experience, Kingfisher Airlines is committed to provide only the best to its guests. It is in line with this that we have chosen to align with ICICI Bank, the leader in the credit card industry in the country, to create a unique co-branded credit card. This alliance will also further strengthen the corporate relationship that the UB Group has enjoyed with ICICI Bank.”

The ICICI Bank-Kingfisher Airlines credit card, which is being launched on the VISA platform, will be unique as in addition to the standard Gold credit card benefits, it would also carry a host of special, customised features available to every card holder.

The special features include privileged access to lounges and restaurants, with free refreshments at domestic airports, access to almost 180 golf clubs in India through special tie-ups and special packages for golf holidays across the world.

The ICICI Bank-Kingfisher Airlines credit card holders will also be eligible for special invitations for premium lifestyle shows and events like fashion shows, movie premieres etc.

Another unique feature that is available for members of the ICICI Bank-Kingfisher Airlines credit card is a 24x7 concierge service that gives the card holder personalised assistance across various cities in India with services ranging from car rentals to city guides and more.

Kingfisher Airlines would also recognise and incentivise its loyal consumers through a variety of benefits on the same co-branded credit card.

Said Chanda Kochhar, Executive Director, ICICI Bank, “We are pleased to be associated with Kingfisher Airlines as it gives the bank an ideal opportunity in the growing co-branded segment to provide customers with a different set of lifestyle features in addition to a better travel and shopping experience. At ICICI Bank, enhancing customer benefits has always been one of our objectives. The bank has entered into successful partnerships across segments and remains committed to provide such value-added services to our customers”.

Uttam Nayak, Deputy Country Manager – South Asia, Visa International, said, “Visa is delighted to partner with ICICI Bank and Kingfisher Airlines to present this exciting co-branded product. As a leader in India, Visa believes in forging relationships that will lead to enhanced value for its end customer. This is a winning partnership – Kingfisher Airlines provides a vibrant and exciting new flying option, ICICI Bank has always developed unique products for customers and this is underlined by the Visa global system, the world’s most robust electronic payment network that links a billion cardholders and 21 million merchants around the world. This relationship is truly ready for take off! ”

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