Air India has tied up with SBI Cards to launch a co-branded travel credit card that seeks to add value to the travel experience of Indian customers.

The offering from this tie-up comprises Platinum as well as a Signature card.

Given the value proposition offered by the new Air India SBI Credit Card, it is going to wipe out all other credit cards in the market and achieve a significant market share in the next few months, said Rohit Nandan, Chairman and Managing Director, Air India.

The new Air India SBI card allows a customer spending Rs 5 lakh in a year to earn up to three Delhi-Mumbai return tickets on Air India.

The launch of this credit card marks the beginning of a new collaboration between the two major public sector entities (Air India and SBI), Nandan added.

He expressed confidence that both Air India and SBI Cards will live up to the promises being made in their new collaborative journey. “The challenge lies in the delivery”.

State Bank of India is also the leader of a consortium of banks that have helped Air India in its financial restructuring exercise. SBI Cards is a joint venture between SBI and GE Capital.

Speaking at the launch event of the card, SBI Chairman Pratip Chaudhuri said the days of monopoly in various businesses are over in India and both SBI Cards and Air India need to focus on customer delight.

Outlining the rationale for this tie-up, Chaudhuri said that Air India is bringing to the table a great travel product and SBI the widest distribution network (about 15,000 branches).

“We are extremely pleased to partner with Air India and hope that our combined synergies ensure a rewarding experience to our customers in the travel segment”, Chaudhuri said.

(This article was published on September 17, 2013)
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