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Any such situation would likely be short term in any case - all indications are that by 2015 (or soon thereafter) there will be no DM redemptions only AAdvantage.That would be really interesting if that were the case. Qantas, Cathay and Malaysia seats will be snapped up left, right and centre if that were the case (subject to availability, of course).
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Another way to read it is that USDM points may be used for oneworld flights, but it's based on redeeming an AAdvantage award with AAdvantage rules and prices (which is effectively the same as converting your points to AA then burning, but with explicit step less in the process). Or, US is maintaining a relationship with some airlines even after it leaves *A. Some of those partners are *A, some of them are oneworld......
It seems some relationships would continue with
FWIW, Qantas and other *O could quite easily restrict awards for DM members by implementing simple POS¹ restrictions on the GDS.
Some may find this of interest: Building the new American. Together - FAQ's.
Also:
- We plan to continue relationships with the following airlines, which means you’ll be able to earn miles on these select partners even after we’ve exited Star Alliance: Aegean, Air China, Air New Zealand, Avianca, Ethiopian Airlines, Eva, Shenzhen Airlines, Singapore Airlines, South African Airways, TAM, TAP and Turkish Airways.
¹ "Agent", not "Geographic".
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