I initially wrote-off A3, however looking at the detail and compared to my own flying habits, it doesn't seem too bad.
I tend to fly BD, SQ and LX.
If BD are out of the equation, then it's mostly SQ and LX.
A lot of programmes will not credit 100% mileage for SQ's W fares, whereas A3 do. SQ flights are usually long, so this would make a big difference.
Similarly, with LX, some only give 100%, 125% or 150% for LX's P fares, whereas A3 give 200%.
My main concern with A3 is currently the ability to book one-way awards and include stopovers. I get the impression from the T&C's that stop-overs are not permitted.
TK however seem a little similar, even if the *G qualification is higher.
They do one-way awards but at 60% of the return price and no stopovers permitted on one-ways. No stop-overs on open-jaw tickets either.
I assume A3 is in a financially unstable position, however I probably trust them a bit more than I trust TK.