velocity to krisflyer transfer....coming back??
Mar 16, 2021, 4:12 am
#1
Original Poster
Join Date: Mar 2018
Posts: 42
velocity to krisflyer transfer....coming back??
Does anyone have any Intel on this?
I can appreciate that as virgin is under new ownership new deals need to be made with SIA.
I'm sure we probably won't see the 1:1.55 exchange rate but really want to know if my stack of 500k velocity points are going to be any use for international travel in the future.
Do I burn them on domestic redemptions or hold out for redemptions on SIA?
Will happily take unqualified guess work and/or witty banter at this point!
I can appreciate that as virgin is under new ownership new deals need to be made with SIA.
I'm sure we probably won't see the 1:1.55 exchange rate but really want to know if my stack of 500k velocity points are going to be any use for international travel in the future.
Do I burn them on domestic redemptions or hold out for redemptions on SIA?
Will happily take unqualified guess work and/or witty banter at this point!
Mar 23, 2021, 1:10 am
#3
Join Date: May 2014
Location: Brisbane, Australia
Posts: 909
I don't think this arrangement was making them money because they'd have to pay SQ for the points but possibly the amount they were paying SQ for the points was less than the liability of those points on the company (remembering Velocity is a separate company).
Mar 23, 2021, 1:54 am
#4
FlyerTalk Evangelist
Join Date: Apr 2001
Location: MEL CHC
Posts: 21,024
16 Sept 2019 -->Virgin Australia to buy back full ownership of Velocity Frequent Flyer
Virgin will spend $700 million to buy back a 35% private equity stake in its Velocity loyalty scheme.
Virgin Australia plans to reclaim full ownership of its Velocity Frequent Flyer scheme by purchasing the 35% stake of Affinity Equity Partners, which bought into the program in 2014 for A$335 million but is now looking to offload its share.
<snip>
Virgin Australia plans to reclaim full ownership of its Velocity Frequent Flyer scheme by purchasing the 35% stake of Affinity Equity Partners, which bought into the program in 2014 for A$335 million but is now looking to offload its share.
<snip>
Sep 14, 2022, 2:24 am
#8
Join Date: Sep 2007
Location: MEL
Programs: QF Bronze, UA GM
Posts: 145
Thank you @MELso
I read Velocity will start on October to charge a fee over SQ award tickets =S
I read Velocity will start on October to charge a fee over SQ award tickets =S