El Al Israel Airlines Ltd. (TASE:ELAL) Matmid frequent flyers club has notified members that as from April 2025 there will be changes in the way that they accrue ‘diamonds,’ which can be exchanged for improved status. Market sources believe that this is an attempt by the Israeli carrier to walk back on some of the changes it made last September. At that time El Al was operating in a competitive market and strenuous efforts were being made to attract passengers. But the market has changed dramatically since October 7 and El Al controls the skies with near dominance on many routes.
What is the diamonds program
El Al’s Matmid frequent flyer’s club has three million members in Israel and abroad, of which nearly 400,000 hold the Fly Card credit card, according to the airline’s financial report for the first quarter of 2024.
The Matmid club allows members to accrue points through which they can buy flight tickets and upgrades. The club also offers other benefits similar to typical consumer loyalty clubs.
The accumulation of points is achieved in several ways. The main way being accruing points by buying flight ticket and purchases using the club's credit card. The more expensive the fare, the more points earned.
The frequent flyer club's new loyalty program, launched in September 2023, offers an upgrade system that allows club members of any status to upgrade their flight tickets.
The club has five membership levels: Matmid (base level), silver, gold, platinum and top platinum. Luxury customers are gold class and above.
The higher the level, the more points earned with each purchase, and the range of benefits improves and expands and includes unlimited access to lounges, priority boarding, personal service, and more. To pass from stage to stage, members need to accumulate "diamonds."
These diamonds only allow club members to advance in the ranks, and are accumulated at the same time as points, which are used as "cash."
How do you accumulate "diamonds"? The formula is quite simple. Every dollar on the purchase of a flight ticket, a "space" seat or luggage entitles one "diamond". Fly Card holders receive 1.2 diamonds for every dollar. In addition, purchases with the club's credit card are entitled to diamonds - every NIS 80 earns one diamond.
How many diamonds are required to earn upgraded status? To reach Silver status, 3,000 diamonds or 2,000 diamonds and six one-way flights (three round-trips) are required within a year. To reach Top Platinum status, 28,000 diamonds" or 25,000 diamonds and 40 flights in one direction are required within a year.
What will change next April?
At the beginning of the month, El Al told frequent flyer customers that the method by which the status of each club member is determined may soon change. According to a letter distributed to customers, a "new diamond program" will be launched that will include new threshold conditions. The meaning: an ungraded drop to a lower status and even to the base status is possible.
What will be the changes? It has not yet been decided, but Matmid stresses that if the changes are made, they will not be drastic. The amount of diamonds that must be accumulated to move from one class to a higher class, will not rise by more than 30%.
What is the difference between El Al’s Matmid and other frequent flyer clubs
El Al does not belong to an international airline alliance. Therefore, members of its frequent flyer club members have limited options compared with members of other loyalty clubs worldwide, who enjoy greater flexibility.