Isracard hijacks El Als Fly Card from ICC CAL

El Al loyalty membership’s Fly Card, which presents 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 an extra revenue of greater than NIS 100 million for El Al per yr on common, all through the ten years of the settlement.

Within the coming weeks, Isracard will start transferring prospects and issuing new playing cards. Present membership members who maintain Isracard playing cards will proceed to get pleasure from 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 Specific, a part of the Isracard Group, points premium playing cards for the membership, and now the collaboration will likely be expanded to handle all card exercise. In line with the corporate’s announcement, as a part of the collaboration, Isracard will work to develop its buyer base, enhance 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 purchasers 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 top quality and constant buyer base. The mix of the power of the Frequent Flyer Membership model and the capabilities of Isracard will permit us to speed up progress, develop banking and non-banking card exercise, and lead the client membership market in Israel to the following 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 remodeling the membership into one of many main buyer golf equipment on the planet.”

Printed by Globes, Israel enterprise information – en.globes.co.il – on March 26, 2026.