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Mashreq, Air Arabia Launch ‘Air Arabia Mashreq Credit Card’
DUBAI — Mashreq, one of the largest banks in the UAE, and Air Arabia,
The largest low-cost carrier in the Middle East and North Africa, on Tuesday jointly launched a loyalty card called “Air Arabia Mashreq Credit Card.”
The latest card is the third co-brand card of the bank, which will provide its a combination of premium banking services and Air Arabia’s wide range of travel services, the bank said.
“Flying Air Arabia is all about simplicity and value,” Adel Ali, Group Chief Executive Officer of Air Arabia, said. “We are committed to continuously providing our customers with innovative complementary services that will enrich their travel expectations when flying with us,” Ali said.
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 per cent & 12 per cent respectively. “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,” Douglas Beckett, Head of Retail Banking, Mashreq, said.
Beckett said that Mashreq is the largest card issuer in the United Arab Emirates and the second largest card acquirer in the country. It has earlier launched co-branded cards in the telecom and the entertainment business segment and now in the travel industry segment, he said.
“Joining forces with Air Arabia 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.
abdulbasit@khaleejtimes.com
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