Garuda and Standard Chartered enter "strategic partnership"

Garuda has signed a customer loyalty deal with Standard Chartered Bank as it develops what both sides term a "strategic partnership" that originally stemmed for an aircraft leasing deal.

12th Apr 2012


Garuda has signed a customer loyalty deal with Standard Chartered Bank as it develops what both sides term a "strategic partnership" that originally stemmed for an aircraft leasing deal.


The deal follows on from sale and leaseback deals by Standard Chartered Bank and Garuda for ten Boeing 737-800 Next Generation airplanes. The aircraft will be leased to Garuda Indonesia by Pembroke Lease France SAS, one of Standard Chartered Bank’s aircraft leasing, financing and management subsidiaries.
 

"The aircraft leasing discussions led to a wider synergy with Garuda. We offer a full range of wholesale, global markets, SME and consumer banking, and this is an extension of that," said Subroto Som, regional head of consumer banking, Southeast Asia at Standard Chartered.
 

As part of the collaboration a new co-branded Garuda Indonesia - Standard Chartered credit card will be launched for Indonesia customers.
 

Additionally, Standard Chartered credit card holders will receive extended benefits and discounts when booking Garuda flights which is also applicable in six other markets - Singapore, Malaysia, Thailand, Hong Kong, Taiwan and South Korea. These benefits include:
• Up to 12% discount for airfares on all international and domestic routes
• Up to 30% discount on airfares for international flights to Jakarta and Denpasar
• Special promotion airfares with the minimum purchase of two tickets for flights out of Indonesia
• Free additional 5kg baggage allowance for Executive Class passengers
 

While it is initially targeted at markets where Garuda has a significant presence, the idea is to role the scheme out globally at  a later stage.
 
 

Asian Aviation at a glance