What must be a few years back, I understand that QFF was reported to be earning massive profits even when Qantas was losing equally as much (maybe more). At that time, that prompted suggestions that they may sell QFF (golden goose).
I wonder if Virgin Velocity is in the same sort of boat. I am asking because Virgin Australia just posted $225 mil in losses. I’m wondering whether my Velocity points are relatively ‘safer’ else where (e.g. Krisflyer).
I know this is a hypothetical question but any info or comments are welcome.
There are no safe havens in this game. ?
You’d think that bank programs (Amex MR, ANZ Rewards, Citi Rewards) are as safe as you can get, but I’m not sure after the Citi Rewards transfer-rate deval last year.
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I wouldn’t move your points to KrisFlyer over paranoia about Velocity. Just use and transfer them as you need them.
But I know where you’re coming from, Velocity is seeming less stable because of recent changes… but there is not true safe haven, it’s just about minimising risk. All the major programs we have in Australia are generally good about giving enough notice to do something with your points if they do make a negative change, so that’s the key part – pay attention for problems and take action if they come up.