O well... guess time to look around for alternative carriers.
I was quite shocked at the jump in prices, and devaluation of miles. I spoke to my company's Travel Coordinator to confirm this. If true EK is going to lose a lot of business from my company (lots of Asia x US/South America flights).
Typical company policy is to go with cheapest flex flights (Eco & Biz). Looking at the new prices, some of the Alliance airlines are now cheaper...