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Plenty of ways to get their having your bags checked through.I am a One World flyer so BA,AY and IB all fly into VCE.Same number of stops as flying emirates.
If I was doing it QF codeshares with AY to HEL via BKK,SIN,HKG,NRT at least then AY to VCE.Could be done on a One World circle fare-though I have no idea of the pricing of those but will be looking into it when travelling to IST next year.
I am sure the *A could also be used for this route.