Citibank introduces India's first airline agnostic card with Jet Airways

May 23, 2012 - PRLog -- Citibank India yesterday reaffirmed its strategy to be a leader in the cards segment by strengthening the offerings of India’s first airline agnostic card, Citibank PremierMiles Credit Card. In response to the changing preferences and behaviour among consumers in the country, Citibank has mutually agreed to exit its co-branded card partnership with Jet Airways to introduce a more advanced Citibank PremierMiles Credit Card.

Based on consumer insights and market estimates, not only has the number of air travelers seen strong growth in the past twelve years due to greater affordability and affluence among the emerging affluent class, air travel itself has become extremely fragmented amongst the seven domestic airlines. Today, the Low Cost Carriers (LCC) segment contributes around 50 percent of the total air travel in India, compared with 1999, when LCCs were not present, at the time of Citibank launching market's first cobranded airline card with Jet Airways. As consumers become more sophisticated in their air travel, LCCs are now perceived as 'smart' travel. Citibank customer research also showed that nearly 94 precent redemptions of miles are being made for the domestic sector and that almost 50 percent of travel is being planned a week in advance.

The Citibank PremierMiles Credit Card gives the customers what they need by freeing them from the limitations of choosing one loyalty programme over another, while giving them the unparalleled flexibility of earning and redeeming miles across 100 domestic and international airlines.

Anand Selvakesari, Country Business Manager, Global Consumer Group, Citi India said: “Citibank India has maintained its leading position in the market by meeting and anticipating the changing needs of its customers. Our research shows that with the fragmentation in the aviation industry there is a significant increase in domestic traffic vis-à-vis international, consumer preference has shifted to low cost airlines and travel has become spontaneous. Keeping these in mind, we strongly believe that an airline agnostic card, the Citibank PremierMiles card, is the way for the future for cards in this industry segment".


Muge Yuzuak, Business Manager Cards and Personal Loans, Citibank India pointed out: "This card reflects our commitment to serve products that are strong, research-backed and customer-centric. The flexibility and value offered by the Citibank PremierMiles Credit Card is unmatched in the industry today. All of our valued Citibank Jet Airways card customers will have the choice to transfer to the Citibank PremierMiles credit card programme which offers many new privileges, including a special 10,000 bonus miles free credit to their new PremierMiles account. JPMiles earned on the existing co-branded card, will continue to be seamlessly transferred to Jet Privilege programme through the validity of the existing credit card". For a full report, visit http://automotivehorizon.sulekha.com/citibank-introduces-...