American Airlines Advantage are now offering up to 100% bonus on points purchase. Is it worth it? Exchange rate is not great, risk of AA folding? Unlikely I know, but still a consideration.
I have found AA points extremely useful in the past. Easy to find redemption seats, especially with Qatar. But with the present exchange rate the cost for a return to Europe in business, even with the present bonus, is around 3000 USD (170 000 points) approximately 5000 AUD which is not too far off a “cheap” business class ticket.
I think you have brought up most of the important points. With AUD being that weak, the airline/travel industry being in a mess (don’t know when you can fly again), personally I would keep the cash in my pocket.
But then again, you might see yourself flying soon when everything starts to get back to normal. Challenging to see how airlines would still keep offering the same amount of award seats during the early stages when they want revenue and ticket prices may be higher.
Again, I am just guessing what is going to happen. That’s my 2c worth.
It would be a better deal if you had access to some other form of currency that isn’t so depressed like the AUD is at the moment. I wouldn’ ignore the possibility that American Airlines would go into bankruptcy, at that point, I don’t think retaining your miles and points are their key priority. I would say, only buy, if you have a flight you really want to redeem for NOW because who knows what will happen even in the next 6 months?