China UnionPay and Cathay Pacific Loyalty Programmes Enter into Memorandum of Understanding

Cathay Pacific Loyalty Programmes Ltd. (CPLP), a wholly owned subsidiary of Cathay Pacific Airways Limited, today signed a Memorandum of Understanding (MOU) with China UnionPay (CUP) to formalise a strategic partnership for future business development in Mainland China, Hong Kong and Macau. Officiating at the signing ceremony in Shanghai were John Slosar, Chief Operating Officer, Cathay Pacific Airways and Cai Jianbo, First Executive Vice President, China UnionPay.

Founded in 1946, Cathay Pacific is an international airline registered and based in Hong Kong offering scheduled cargo and passenger services to more than 110 destinations in 35 countries and territories worldwide. Asia Miles^TM, Asia's leading travel reward programme, is managed and operated by CPLP. With 20 airline partners and more than 400 non-airline partners, Asia Miles members can earn miles when travelling to over 1,000 destinations worldwide or from daily activities such as staying at hotels or dining with partner restaurants. Asia Miles can be redeemed for flights, upgrades, hotel stays, dining vouchers and other awards.

The MOU signed between CPLP and CUP will further strengthen the benefits for frequent travellers when using CUP cards worldwide. Longer term, there are plans to launch a co-branded card with an Asia Miles bank partner. This co-branded card will allow cardholders auto-conversion and other value-added services when spending with their credit cards abroad. CUP and CPLP also plan to have more joint promotions in the Greater China market.

In order to meet the growing card usage in the Mainland by Chinese consumers - whether for overseas business, travel or study and for use with domestic commercial banks through the CUP network - CUP is dedicated to the development of an international acceptance network.

CUP's partnership with CPLP will further enhance the quality of CUP card services by providing cardholders with more convenience and benefits when travelling around the world.