El Al loyalty membership’s Fly Card, which gives advantages to frequent flyers, has moved from ICC CAL to Isracard (TASE: ISCD). It is a dramatic transfer as a result of estimates are that Fly Card represents one third of ICC CAL’s exercise. The worth of El Al’s frequent flyer loyalty membership is estimated at NIS 2.7 billion by market sources. It’s 75% owned by El Al and 25% owned by Phoenix Monetary.
Common pre-tax annual revenue for Isracard from the settlement, which was signed for ten years, is predicted to vary between NIS 120 million and NIS 160 million. As a part of the settlement, Isracard will handle the membership playing cards – the premium and bronze playing cards, financial institution and non-bank – and can work along with the frequent flyer membership to switch buyer playing cards from El Al. This represents a further revenue of greater than NIS 100 million for El Al per 12 months on common, all through the ten years of the settlement.
Within the coming weeks, Isracard will start transferring clients and issuing new playing cards. Current membership members who maintain Isracard playing cards will proceed to take pleasure in all the advantages, together with sustaining current factors accumulation and their standing with the airline, together with offering distinctive advantages to current and new members.
At the moment, American Categorical, a part of the Isracard Group, points premium playing cards for the membership, and now the collaboration might be expanded to handle all card exercise. Based on the corporate’s announcement, as a part of the collaboration, Isracard will work to develop its buyer base, improve the variety of financial institution and non-bank playing cards, whereas leveraging its technological and advertising and marketing capabilities, and deepen its worth propositions for patrons and companions.
Isracard CEO Itamar Furman mentioned, “That is one other step in implementing our technique to construct Isracard as one of many main monetary teams in Israel. We’re not simply including a membership – we’re including a big progress engine and deepening the connection with a high quality and constant buyer base. The mix of the power of the Frequent Flyer Membership model and the capabilities of Isracard will enable us to speed up progress, develop banking and non-banking card exercise, and lead the client membership market in Israel to the subsequent stage.”
Frequent Flyer Membership CEO, Moshe Morgenstern mentioned, “We’re within the midst of a brand new period – the transfer is the primary milestone in reworking the membership into one of many main buyer golf equipment on the earth.”
Revealed by Globes, Israel enterprise information – en.globes.co.il – on March 26, 2026.
© Copyright of Globes Writer Itonut (1983) Ltd., 2026.
