Mashreq has teamed up with Air Arabia, the first and largest low-cost carrier in the Middle East and North Africa, to provide its credit card holders with a unique combination of premium banking services and Air Arabia’s wide range of travel services.

Adel Ali, Group Chief Executive Officer of Air Arabia, said: “In the six years since the airline was launched, Air Arabia has consistently demonstrated its commitment to offering its passengers the greatest range of value-for-money services. Today more than ever, customers everywhere are seeking opportunities to benefit from new travel rewards programmes. In that regard, we are very pleased to partner with Mashreq on the launch of this pioneering initiative.”

“Flying Air Arabia is all about simplicity and value,” he added. “We are committed to continuously providing our customers with innovative complementary services that will enrich their travel expectations when flying with us.”

A survey conducted by ‘YouGovSiraj’ earlier this year highlighted that low cost carriers are witnessing a demand increase in terms of both traffic growth and earnings. The survey also showed that leisure and business travellers are shifting from premium to low-cost carriers by 7% & 12% respectively .

Commenting on the announcement, Douglas Beckett, Head of Retail Banking, Mashreq, said: “At Mashreq we offer a broad range of credit card propositions aimed towards different lifestyles and preferences. We understand that many UAE customers spend a substantial amount on travel and hence require a credit card product that specifically meets that requirement. We are tremendously excited to launch this loyalty card to over millions of Air Arabia customers.

Mashreq is the largest card issuer in the UAE and the second largest card acquirer in the country with state of the art technology. It has earlier successfully launched co-branded cards in the telecom and the entertainment business segment and now in the travel industry segment

“Joining forces with Air Arabia, the region’s largest low-cost carrier, is a great way to reward our mutual customers on their spend and reinforces our reputation as a bank that offers the most in terms of innovation and convenience,” concluded Beckett.

The new Classic and Platinum co-branded awards free flights on Air Arabia for every AED 25,000 spent, providing unmatched value in terms of conversion of spend to free tickets currently available in the market.

(c) Centre for Asia Pacific Aviation. Date posted: 11-Nov-09

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