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velocity to krisflyer transfer....coming back??

velocity to krisflyer transfer....coming back??

Old Mar 16, 21, 4:12 am
  #1  
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Join Date: Mar 2018
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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!
Wramsey1980 is offline  
Old Mar 22, 21, 2:40 am
  #2  
 
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Does VA make money in the transfer? If so they'll bring it back. If not, then no. </unqualified banter>
shuuy is offline  
Old Mar 23, 21, 1:10 am
  #3  
 
Join Date: May 2014
Location: Brisbane, Australia
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Originally Posted by shuuy View Post
Does VA make money in the transfer? If so they'll bring it back. If not, then no. </unqualified banter>
Perhaps it'll come back but with a worse exchange rate.

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).
henrus is offline  
Old Mar 23, 21, 1:54 am
  #4  
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Originally Posted by henrus View Post
...than the liability of those points on the company (remembering Velocity is a separate company).
In hindsight not the best use of VA's cash/overdraft-loans

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>
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Mwenenzi is offline  

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