Velocity reinstates Singapore Airlines redemptions

Happy Dude

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The main issue is that you'll lose points with each transfer. The ratio has never been 1:1 - the latest was 1.55 to 1 in either direction.
A more pressing issue is that it can't be done currently. That may change soon though. When it does @Phoenix-1 would lose points each time.
 

kpc

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Was initially 1.35 VA= 1 KF
Then 1.55 VA = 1 KF when it was suspended in April 2020 I think.
The exchange will be worse when it comes back on 19 July...I can guarantee you that!
I will guess somewhere from 1.75- 2.0 VA = 1 KF. :(
 

Mr H

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It'll come back on 19 July. Guess we'll find out if the rate has changed in 2 weeks time!

I am not seeing any reason why it would need to change. If the exchange rate worked for both parties before Covid then why would it not work for them now? Assuming both parties win from the transfers, they would want to pitch it at a level that is attractive for people to use.
 

MooTime

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Was initially 1.35 VA= 1 KF
Then 1.55 VA = 1 KF when it was suspended in April 2020 I think.
The exchange will be worse when it comes back on 19 July...I can guarantee you that!
I will guess somewhere from 1.75- 2.0 VA = 1 KF. :(
only guarantee is death & taxes.
we can assume, but not guarantee.
 

http_x92

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The rate staying at 1.55:1 would be a massive win at this point, or they might introduce a transfer fee ;)
 

HS-TQE

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I'm tipping a slight devaluation between 1.75 to 1.95 to go with the new SQ/KF carrier surcharges. However there is a window of roughly 3 months before the surcharges kick in.
 

Mr H

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I'm tipping a slight devaluation between 1.75 to 1.95 to go with the new SQ/KF carrier surcharges. However there is a window of roughly 3 months before the surcharges kick in.

It's a different beast. A flight is a flight is a flight. A frequent flyer point, on the other hand, is a currency that is linked to dollars, and as dollars erode through inflation, the exchange rates between flights and frequent flyer points will need to rebalance. The exchange between two currencies - in this case, KF and VA - does not need to alter if both currencies deflate at a similar rate.

The rate staying at 1.55:1 would be a massive win at this point, or they might introduce a transfer fee ;)

The 0.55 is the transfer fee.
 

jase05

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It's a different beast. A flight is a flight is a flight. A frequent flyer point, on the other hand, is a currency that is linked to dollars, and as dollars erode through inflation, the exchange rates between flights and frequent flyer points will need to rebalance. The exchange between two currencies - in this case, KF and VA - does not need to alter if both currencies deflate at a similar rate.



The 0.55 is the transfer fee.
There was talk at the time that VA wasn’t happy with the transfer rate and that they felt that it disadvantaged them. It will be interesting to see if VA has negotiated something better in their favour now they are free of SQ shackles
 

Mr H

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Considering the announcement of the confirmed date of the return of the transfer program without a clear confirmation of whether the transfer rate will stay the same suggests strongly that it's tipped that it will change.

The website still says 1.55 and says the transfers will be back on 19 July. Obviously that's no guarantee that the advertised rate would still pertain in a fortnight's time, but I'm not seeing where you are getting information suggesting the rate will change.
 

HS-TQE

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The website still says 1.55 and says the transfers will be back on 19 July. Obviously that's no guarantee that the advertised rate would still pertain in a fortnight's time, but I'm not seeing where you are getting information suggesting the rate will change.
VA website isn't exactly reliable for updating in a timely manner, but let see happens in a fortnight from now.
 

henrus

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With a KrisFlyer devaluation and increased carrier charges, the devaluation is not the exchange rate but rather how far your points will get you on the other end.
 

http_x92

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Thinking about it, with the KrisFlyer devaluation and the carrier charges coming the rate may stay the same.

Its about how much that needs to be redeemed on *A reward flights and SQ itself that would ultimately matter. That might be the case to keep it at 1.55:1.
 
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henrus

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Its about how much that needs to be redeemed on *A reward flights that would ultimately matter.
The *A redemption rates also increased (all of the SQ changes were effective today).

Old Rates:
Screen Shot 2022-07-05 at 5.51.39 pm.png

New Rates
Screen Shot 2022-07-05 at 5.54.13 pm.png

Destinations - Same for both old/new
Screen Shot 2022-07-05 at 5.54.21 pm.png
 

stig_aus

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Just nabbed 2x J seats from CPH to SIN for Jun 2023. Availability was pretty good for a huge number of dates (even earlier than June which obviously just got released).

Great value at 92k Velocity points each + $30ish in taxes/charges.
 

DJDBA

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I just found Velocity business class redemption SIN to MEL in feb 2023 ( they have premium also) and it works out at 78000 velocity points on Singapore airlines. On SIA site it is 68000 ( or 105,400 at waitlisted business using 1.55 conversion rate ..)
 

RAM

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Does make me wonder if:

  • VFF kept back some inventory to allow for increases post SIA increases; +/or
  • SIA is adding additional capacity (more flights, swapping larger capacity planes to some routes) quietly
Several reports of B777s being added to Singapore/Paris route over A350s. Result 1st class redemptions now available from previous flights on sale that only had business as top cabin (A350s).

May well be worth re-checking earlier failed searches for premium seats every couple of weeks...
 

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