Standard Chartered cardholders charge 61% of travel
spending on no-frills flying
AirAsia leads with 51% share
Kuala Lumpur, 29 October 2014
– Standard Chartered Bank (Standard Chartered) cardholders spent 61% of their travel expenses with low-cost carriers between October 2013 and September 2014.
AirAsia was the dominant airline, accounting for 51% of the total travel spending and 83% of the low-cost carrier category.
Amnah Ajmal, Head of Retail Banking Products, Standard Chartered Bank Malaysia, said:“One of the main factors behind this trend is the growing popularity of low-cost carriers, especially for intra-regional travel. Consumers are becoming savvier with the availability of information and popularity of price comparison websites.”
“To meet the demands of value-conscious travellers, we collaborated with AirAsia BIG to offer our Standard Chartered WorldMiles cardholders an unprecedented range of travel deals and packages. This has earned WorldMiles the title of ‘Best Travel Card’ by one of the most popular personal finance websites in Malaysia,” she added.
The Standard Chartered WorldMiles credit card was introduced in April 2013 and is targeted at frequent flyers and those who enjoy travelling. Cardholders can accumulate air miles from three partner airlines in a fast and cost efficient manner.
In the first three quarters of this year, WorldMiles cardholders spent 81% more on travel, hotel and related expenses compared with 2013. Air fares comprised 64% of their total travel spending.
AirAsia BIG’s Chief Executive Officer, Alice Goh said, “We are pleased that Standard Chartered cardholders are enjoying new travel experiences with AirAsia BIG. AirAsia BIG is all about giving our customers more value and making travel more attainable. We continually innovate together with partners such as Standard Chartered to offer big rewards for our loyal customers.”
Low-cost carriers are playing a significant role in shaping the future of the airline industry in Malaysia, bringing double digit growth in the low-cost air travel sector every year over the past decade. Outbound travel remains mainly within the Asia Pacific region with Thailand, Indonesia, China, Singapore and Hong Kong making up about three quarters of Malaysia’s total outbound travel.
Recognising trends in the Asia Pacific markets, Standard Chartered and AirAsia BIG have tailored new offerings to better serve their travel-savvy clientele. Among some of the offers are:
- WorldMiles cardholders are entitled to redeem two return tickets to destinations such as Sydney, Melbourne, Gold Coast, Osaka and Shanghai from only 20,000 AirAsia BIG points
- New WorldMiles credit card applicants stand to receive 30,000 AirAsia BIG points upon activation
- Redeem 3,000 Standard Chartered credit card points for 1,000 AirAsia BIG points.