You can now exchange 5 membership reward points for 4 AY points. "Finland, Sweden, Germany and Austria will launch the first phase of the global partnership agreement this week followed quickly by France, the UK, Italy, Spain, India, Japan, Thailand and Hong Kong on October 3, 2011."
I think it is not a very good exchange rate. Before it was 1 point for 4 FIM, after that it was 1 point for 1 Euro (roughly 6 FIM). After a few year's break it is now just 0.8 point for 1 euro. It is the same rate as for many other FF programmes only that 1 AY point is one kilometer and most other programmes count in miles (or Avios
). Compared with Diners Club this is very lousy (2 points for 1 euro).