AFAIK, most European Airlines have expiry date for their miles.

It's a business decision of the airline, which as might as I don't like I understand.

The thing is that if you live in Israel, have an Israeli CC, you can get some more points of that, plus the hotel which you stay in once in a while, you can get to the 900 points mark.

Also, once in a while they have promotions (like now) where the ticket is only 650 pts to zone C (west Europe) rather than 900. A fair deal I would say.

But in any case, do your math. If you'll get free flights faster on QF, go with them (also AA has FF agreements with LY). Personally, I think that QF program is better for most Israelis who fly only once a year, but it depends on the exact class.