El Al Israel Airlines Ltd. (TASE:ELAL) has launched its revamped Matmid Frequent Flyer Club, which for the first time will operate like the similar loyalty plans of rival airlines worldwide. Among other things, customers can accumulate an unlimited number of points, which can be converted into the number of air miles that passengers fly. According to El Al, the Mastmid Frequent Flyer Club has 2.5 million members.
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Prior to the latest changes, points that customers collected were only valid for three years. As part of the new program, each point accumulated will be valid for 18 months, with the validity of the points automatically extended by an additional 18 months each time a club member earns at least one point from a flight, or makes transactions worth at least NIS 5,000 per month on the FlyCard credit card. In addition, the value of the points will be multiplied 50 times, so that each point in the current program will be equal to 50 points in the new program.
The new terms will allow El Al’s customers to also use a new currency that the company will launch – diamonds. The frequent flyer club’s customers will be able to accumulate the “diamonds” at the same time as the points and use them to enhance their status, upgrade seating and other benefits.
Another major change is that club members will be able to purchase tickets using only points, without additional cash, as was customary until now. However, a fee will be charged for the tax component of the total cost of the card.
El Al Hamatmid Frequent Flyer Club and FlyCard CEO Ronen Galperin said, “”The new loyalty program we are launching puts it on par with the world’s best loyalty programs. The program benefits our active and loyal customers and gives them much more such as validity of unlimited points, a broader upgrade policy, easier redemption of points and faster progress to higher status. El Al and the club have proven that the strength of the brand is high, and demands for the club is increasing, while an expression of business confidence in the customer loyalty club was expressed by the entry of the Phoenix as a partner in the club.”
Published by Globes, Israel business news – en.globes.co.il – on December 2, 2022.
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