Singapore Airlines, ICICI Bank launch co-branded credit card

Private sector lender ICICI Bank in association with south-east Asian air-carrier Singapore Airlines today launched the co-branded 'ICICI Bank Singapore Airlines Visa Platinum Card' in the Indian market.

"This is the first time that we (Singapore Airlines) have launched a credit card in India. The synergy that is created by this partnership is unprecedented," Singapore Airlines' Regional Vice-President (West Asia and Africa) Lee Lik Hsin said at the launch function.

Singapore Airlines is confident that the card would bring unparalleled benefits to its loyal customers and further boost the appeal of KrisFlyer programme in India, Hsin said.

KrisFlyer is Singapore Airlines frequent-flyer programme under which its enrolled members can redeem their miles for free flights on over 20 global airlines to more than 820 destinations across 160 countries.

ICICI Bank has issued 7.5 million credit cards in India of which around 10 per cent are in the premium segment. Singapore KrisFlyer programme claims to have 80,000 members enrolled in India. 

"Our objective is to deepen the relationship with our customers. The co-branded credit card offers multiple benefits to customers as all values are bundled together in the plastic," ICICI Bank's Head of Retail Assets Group, Sachin Khandelwal, said.

The bank was specifically targetting its premium card-holders to promote the co-branded credit card, he said.

To a question whether the card was launched keeping in view the on-going stand-off between Singapore Airlines and the Indian travel agents over non-payment of agency commission, the Airlines' General Manager (India), Foo Chai Woo, said that the introduction of the card had nothing do with the issue.

"It is not a reaction. We were exploring the opportunity to launch a co-branded card for quite some time," he said.

The card offers a host of benefits to customers including complimentary membership to Singapore Airlines KrisFlyer Club and silver tier Hilton Honours programme, exclusive and fabulous air-fares from Singapore Airlines, exciting benefits such as access to golf courses, airport lounges, discount at international duty free shops and spa packages in Singapore, amongst others.