Tier 1 lender Equity has partnered with national carrier Kenya Airways (KQ) to provide the bank’s customers, who book flights using their Equity Cards, a 30 percent and 10 percent discount on the booking of international and domestic flights respectively.
The 30 percent discount will apply on direct international flights available on the airline’s routes on both business and economy classes while the 10 percent discount on domestic flights will be available on both business and economy classes.
The promotion, which will run till January 6, 2020, is open to Equity Visa, Equity Mastercard Debit, Credit and Prepaid card customers as well as Equity AMEX card customers. The promotion will also run in the six African countries that the Tier 1 lender operates in.
“We invest in strategic partnerships that bring value to our clients. This festive season, we have partnered with KQ to avail discounts on flights which will make air travel less expensive for our customers who pay for their flights using Equity Cards,” the lender’s Kenya Managing Director, Gerald Warui said in a statement.
In order to access the promotion, customers will have to visit the airline’s offices and websites. Customers who buy the tickets online will be required to input the promotion code EQUKQ19 to access the discount.
Experts reckon that KQ’s move to partner with the lender is a means to increase the carrier’s profitability which has been on a negative decline since 2012. The carrier on Wednesday issued a profit warning for the year ending December in a move that hints at the airline incurring more losses than the Ksh. 7.56 billion it posted in December 2018.
On the other hand, Equity has been continually making profits in the past few years. In the first nine months of 2019, the bank posted a pre-tax profit of Ksh. 24.78 billion shillings in up from Ksh. 22.41 billion recorded in a similar period last year. This translates to an 11 percent jump in pre-tax profit. The bank has attributed the strong performance to the growth of its lending and non-funded income.