Qantas Loyalty boosts profits, does first property tie-in

Qantas Loyalty boosts profits, does first property tie-in
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Qantas’ Frequent Flyer loyalty program netted the airline $260m in earnings last year, with CEO Alan Joyce describing the scheme as “vital to the group”, which made an overall $6m profit this year.

Yesterday the airline unveiled a “Swiss-army knife”  loyalty scheme allowing customers to pre-load currency onto the card for foreign purchases, and today they have announced a tie-in with LK Property Group allowing people to earn points while purchasing an apartment.

In its full year results, unveiled this morning the airline said it has 9.4m members of the scheme, and wants to get to 10m by the end of the year, nearly half of the population of Australia.

Joyce added: “Qantas Loyalty’s success reflects the strength of the group’s airline businesses, and it will remain at the core of our strategy, delivering sustainable earnings growth over the coming years.”

The new deal with Melbourne-based LK Property Group will allow people to get hundreds of thousands of points in one hit, redeeming the full value of the transaction in points.

Owner Larry Kestelman told The Australian Financial Review today they had seen a considerable upsurge in interest on properties since the airline sent an email to customers in the area on Tuesday with details of the deal. 

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