If they are cutting miles to cut down prices I think it will be a win-win situation for both EK and the not so FT's of EK.

With the economic turmoil going on all over with falling oil price and etc, and EK's bankers are significantly from the middle east who is the most affected of this economic turmoil, EK cutting down on miles for fare will infact help them to attract the Economy cabin, which brings significant revenue for EK.

Recently Jetairways ( India ) pledged all of its 51% share to keep running. Its well known for its FT program and the best available in India. But now they cannot compete with the other low cost airlines who do not offer an attractive FT, but price.. And its works like a charm. EK's significant revenue being from Asia, where there is a fare war all the time, EK needs to be competitive with prices.

Retaining silver or gold for lounge access has been my motto since 2009. But lately with short transits and crowded lounges ex-Dubai never gave me a chance to use the lounges. So for my situation, I will welcome a fare cut if it comes with miles. EK connections is the best in the market for my travel pattern.