Citibank ends card pact with Jet Airways

Citibank announced the exit of its 12-year-old co-branded card partnership with Jet Airways on Tuesday even as it launched an airline agnostic credit card.

The foreign bank cited changing consumer preferences for ending the partnership with Jet. The bank's co-branded partnerships with Shoppers Stop and Indian Oil Corp, however, stay intact.

Jet Airways and Citibank will continue to support all Jet Airways Citibank credit card features until July 15.

The new Citibank PremierMiles Credit Card will earn and redeem miles across seven domestic and over 100 international airlines, the bank said.

“With fragmentation in the aviation industry, there is a significant increase in the domestic traffic vis-à-vis international traffic. Also, consumer preference has shifted to low cost airlines and spontaneous travel has increased,” Mr Anand Selvakesari, Country Business Manager, Global Consumer Group, Citi India said.

Low-cost carriers (LCCs) account for about 50 per cent of the total air travel in the country as on 2011, Mr. Selvakesari added.

The existing Citibank Jet Airways customers will be given a choice to transfer to Citibank's new card programme with privileges, including a special 10,000 bonus miles free credit to their PremierMiles account.

Jet Airways plans

Jet Airways is planning to introduce a JetPrivilege programme with its co-branded credit card. “JetPrivilege will enable its members to earn and redeem JPMiles to over 600 worldwide destinations,” a Jet Airways spokesperson said.

beena.parmar@thehindu.co.in