We have all seen the news on AZ today and AB is in a somewhat similar situation, maybe 3 months behind.

Main question: Does anybody know what happens to AB-issued award tickets on partner airlines (745 ticket stock), if AB goes broke before the scheduled flight?

• I know Topbonus is a separate company and majority-owned by EY
• Tickets are issued, miles have been deducted from account, PNR has been provided, booking can be accessed on partner website (QR)
• Fees/taxes have been paid in full using credit card

Is the partner airline obligated to honor the issued ticket, regardless of the financial situation of the issuing airline, or are there other influencing factors to consider, e.g., has the payment to the partner airline already been provided by Topbonus, etc.? (when does payment usually happen? at time of ticket-issuance?)

Next logical question: What happens to remaining Topbonus balances in any of the likely scenarios that can happen to AB?

• Program discontinued/miles invalidated
• Program merged with EY Guest
• Redemption restricted to Etihad Airways Partners (esp. if AB stays in business but leaves *O)
• Required mileage increased (factor 5-10) to discourage members from redeeming for flights
• Conversion to Miles&More after LH takes over (ongoing talks between LH & AB have been reported)
• ...

Thanks in advance to anyone shedding light on this!