Using Velocity partner airlines, there doesn’t seem to be an easy way to get there.
Sydney to Tel Aviv seems to require at least 1 stop (which seems to be via Bangkok).
What my thought process in this would be:
- I would check on Google Flights or Skyscanner for economy flight prices, timings and what airlines fly that route.
- Check if any of the airlines that fly the route are partners of Velocity of Krisflyer (you can transfer Velocity points to Krisflyer).
- I would research how much points and out of pocket costs it would costs me to get to the destination or a transit city - if using points.
- Compare whether it is a worth while (good value) use of my hard earned points.
Using Velocity points, it is rather popular/easy to get to Singapore, which charges low-med.
Or you could convert your Velocity points to Krisflyer (1.35 velocity pts: 1 Krisflyer) to access Star Alliance flights. Note: Krisflyer charge relatively high surcharges for award redemptions so it is generally not very good value for economy flight redemptions.
If you have access to United Mileageplus, it costs 70k points and low surcharges for the return trip to Tel Aviv in economy.
My personal stand point is (Bear in mind, I am biased towards using my points for business class and first class redemptions because they give high value use of my points), I would pay cash for this particular flight if I were to fly economy. The cheapest economy tickets I could find for this route is $1300 return (2 stops) and $1900 (1 stop). Booking with cash gives me flexibility in timing, choice of airlines, transit cities (for stopover), earn frequent flyer pts and status, etc.
I would use my points in a separate trip in the future. However, if you are trying to save out of pocket costs, go for it. Everyone’s circumstances is different.