Am I right in thinking that SK Eurobonus gives a minimum of 1200 for a Star Alliance Business Class flight?

TG have business class in the 35 min flight from Chiang Mai to Chiang Rai. Expedia is quoting £42 (UK) return in Business Class. It's £26 return in Economy.

There appear to be 2 return flights a day.

Does this mean you could do 5 returns in business for £210 and get 12,000 points on SK?

Stephen