Is it Time to transfer/withdraw points from Velocity?

[Bibendum]

Hi All,

I need some advice from the brains trust on this forum.

I, like many on here, have hundreds of thousands of points sitting with velocity. With the current COVID-19 situation and virgins financial position I’m concerned that if the airline was declare bankruptcy points may disappear..

What’s the likelihood of this happening and should I withdraw my points by purchasing gift cards to get some cash value at what I have..?

am I making a mountain out of a mole hill.. or is there a real threat to my velocity points been wiped out..?

 

[RAM]

VA will not bother doing any tie-ups with international airlines, I suspect, until after the International borders open up.

No point in them wasting money advertising any tie-ups if there is almost zero ability to use them for the bulk of VFF members.

Equally, other than SIA (hopefully), who knows exactly which airlines are going to survive and equally from a foreign airline's perspective the lack of anything definitive from the Federal Govt makes no sense for them to commit.

The news that SIA has put 1st class (from Singapore to a few Asian/Australian destinations) back on from June 2021 is a positive development even if it is just 4 seats/suites on a B777.

Also, I suspect the widespread backlash on social media about VFF members being inundated with email offers did hit home. The absence of mutliple emails since Jan 2021 has been a welcome 'enhancement' .

 

[HS-TQE]

VA will not bother doing any tie-ups with international airlines, I suspect, until after the International borders open up.

No point in them wasting money advertising any tie-ups if there is almost zero ability to use them for the bulk of VFF members.

Any full blown JVs (e.g SQ, DL and EY) would have to be applied for again to the competition commissions of all related countries, considering they have expired at the end of last year (SQ's JV is expiring after the middle of this year).

At most any re-instated partnerships with those 3 (or any new partner for the matter) would have to be a proper codeshare/FF redemption agreement in addition to the interline (similar to the new VA/AC agreement), as opposed to the loose interline and FF arrangement that's been in place for most VA partners since VA entered administration last year.