Originally Posted by
mirror74
If you are right, I see two possibilities: either LH/M&M really signed a out-of-sync contract or SM miscalculater transfer ration for M&M... should have been maybe 3:1 or even 4:1 instead of 2:1...
This is completely in balance: Melia is paying Miles&More something around 1.2 EUR-Cents per mile and you purchase 2 Melia Points under the promotion terms for 1.23 EUR-Cents.
Melia is not losing any money and customers are happy. Win-win.
The risk is more with the one sitting on the M&M miles as Lufthansa is very quick in devaluating their program literally every month. As they have alreadye pocketed the money for selling the miles, they don't care whether you get value for them or not.
If Lufthansa sells Miles&More or they become independent, there is almost no obligation anymore to ensure any number of award seats and/or upgrades is available. This would then change the character from a frequent flyer program to a bonus program. You would be stuck with Worldshop and are literally f*****.