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Zip Co Ltd announces partnership with Tigerair Australia

The Zip Co Ltd (ASX: Z1P) share price is mostly flat on Monday despite the fintech company announcing a new partnership with Virgin Australia Holdings Ltd (ASX: VAH) subsidiary Tigerair Australia.

According to the release, the new partnership with Tigerair Australia will see Zip’s interest-free payment method added to the low-cost carrier’s suite of payment options on or around April 16.

Zip CEO and managing director Larry Diamond believes that relationship with Tigerair Australia delivers on Zip’s strategic vision and continues to build upon its presence in the travel and leisure sector.

He stated that: “The Zip solution complements the Tigerair Australia offering and will provide customers with a new, interest free way to pay. We look forward to taking off with Tigerair in the next few weeks.”

This arrangement mirrors that of rival Afterpay Touch Group Ltd (ASX: APT) and its deal with Qantas Airways Limited (ASX: QAN) subsidiary Jetstar.

That deal was signed in September of last year and was for flights booked online in Australia with transaction values between $200 and $1,000 purchased eight weeks or more in advance of travel.

Although Zip’s shares have not moved higher today on the news, considering the market’s sizeable drop, staying flat is not a bad outcome.

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