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ICICI Bank and Kingfisher Airlines launch the "ICICI Bank Kingfisher Airlines MasterCard Credit Card"

    

Mumbai, Wednesday 15th September 2010 - ICICI Bank, India’s largest private sector bank and Kingfisher Airlines, India's only Five Star Airline rated by Skytrax, today announced the launch of the “ICICI Bank Kingfisher Airlines MasterCard Credit Card”.

The card is powered by a uniquely rewarding miles programme coupled with exclusive travel and lifestyle privileges for discerning customers. Some key benefits of the card include accelerated miles earning for all card spends, bonus miles on joining and renewal, complimentary upgrade vouchers, complimentary membership of King Club, Kingfisher Airlines’ frequent flyer programme and a wide range of special offers on shopping, golfing, dining & more. The miles earned can be redeemed for free flight tickets and upgrade vouchers with Kingfisher Airlines. To cater to the different needs of customers, the card is available in 3 variants – World, Platinum and Titanium.

Speaking at the launch, Mr. Rajiv Sabharwal, Executive Director, ICICI Bank said:
“At ICICI Bank we continuously endeavor to evolve and enhance our credit card products to provide best-in-class experiences & lifestyle benefits for our card members. I am delighted to announce the launch of this powerful card in partnership with Kingfisher Airlines. We are confident that the card will be extremely successful with its exclusive & enhanced value proposition."

Commenting on the launch, Mr. A Raghunathan, Chief Financial Officer, Kingfisher Airlines Ltd., said, “The ICICI Bank Kingfisher Airlines MasterCard Credit Card is set to be a game-changer with an unmatched value proposition and a host of card-holder benefits which are market-firsts and will allow card holders to not only earn at high rates but also redeem and avail benefits at comparatively lower thresholds. Besides some very unique airline benefits, card holders will also be able to earn miles on everyday spends in addition to earning miles on airline spends.”

Mr. T.V. Seshadri, Vice President & Country General Manager, South Asia, MasterCard Worldwide said “We are pleased to be the exclusive network partner for this exciting card program. Our expertise in providing innovative payment solutions in the travel space makes us the preferred payment option for airline travelers,”

The ICICI Bank Kingfisher Airlines MasterCard World Credit Card offers the following features:

  • Complimentary membership to Gold Tier of King Club, Kingfisher Airlines' frequent flyer programme.
  • 10,000 Bonus King Miles on joining.
  • 3 complimentary Upgrade Vouchers on joining.
  • Additional complimentary Upgrade Voucher for every 7,500 King Miles earned on the card.
  • Up to 27 King Miles for every Rs. 200 spent on the card. King Miles can be redeemed for free tickets on Kingfisher Airlines.
  • Exciting benefits such as access to Golf courses, Dining discounts, Airport lounges, discounted calling cards from Uniconnect and many more.

About ICICI Bank:
ICICI Bank Limited (NYSE:IBN) is India's largest private sector bank and the second largest bank in the country, with consolidated total assets of over $100 billion at June 30, 2010. ICICI Bank’s subsidiaries include India’s leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank’s presence currently spans across 18 international locations.

About Kingfisher Airlines:
Kingfisher Airlines is India’s only Five Star Airline rated by Skytrax and the only one to offer a premium first class service on domestic routes. Besides being the first airline in India to offer in-flight entertainment, Kingfisher offers LIVE TV with 16 channels of live and exciting content. The airline has won an impressive line-up of prestigious international awards from Aviation Experts, Travel and Tourism Writers for innovation and customer responsiveness. Kingfisher Airlines flies to 58 cities in India and 8 international destinations and has over 330 departures a day. Kingfisher Airlines is a part of the UB Group that is one of India’s largest conglomerates with diverse interests and a global presence.

King Club is Kingfisher Airlines' frequent flyer program. King Club members can earn King Miles on Kingfisher Airlines and on more than 60 premium partners across verticals.. King Miles can be redeemed for free flights, upgrade to Kingfisher First on Kingfisher Airlines and host of various products on Air Boutique ONLINE.  For more information, please visit http://www.kingclub.me/

About MasterCard:
MasterCard Worldwide, a premier global payment solutions provider, is a valued network partner of ICICI Bank. MasterCard is committed to accelerating business through fuelling economic connections that drive real value for its customers, associates, merchants and consumers. The ICICI Bank Kingfisher Airlines Card presents a wide array of privileges and benefits for airline travelers. MasterCard has built customised assets around the travel platform, such as access to select airport lounges in India. Apart from these, a host of lifestyle benefits are also on offer for the discerning customer.

Except for the historical information contained herein, statements in this release, which contain words or phrases such as 'will', 'would', etc., and similar expressions or variations of such expressions may constitute 'forward-looking statements'. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to obtain statutory and regulatory approvals and to successfully implement our strategy, future levels of non-performing loans, our growth and expansion in business, the adequacy of our allowance for credit losses, technological implementation and changes, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks as well as other risks detailed in the reports filed by us with the United States Securities and Exchange Commission. ICICI Bank undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.


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For further press queries about ICICI Bank, please contact:
Mr. Charudatta Deshpande
Head Corporate Communications
ICICI Bank
Contact No: 91-22-2653 7050
mailid:charudatta.deshpande@icicibank.com

For Further Information about Kingfisher Airlines Ltd., please contact:
Shefali Mehta
Senior Management Supervisor
Ipan Hilll and Knowlton
Mobile: 9819410990 / smehta@ipanhillandknowlton.com

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