[Opinion] - should I keep my award flight bookings or cancel them?

Keen to know people’s opinions on our upcoming travel arrangement.

In rough numbers, I reckon we have spent around 1 million Velocity points and maybe around ?$5k on taxes for an upcoming trip to Europe via Bali and Singapore. All reward flights, mostly business class, combination of Virgin and SingAir with the odd Qantas and Jetstar connection. Travel in Sept.

Given the current COVID-19 situation, I don’t know whether it would make sense to cancel the flights and get refunded most (if not all) of the points/taxes, or hold out to see if the situation improves in the next 3 months before deciding. And if in the meantime VA goes under (god forbid) would I be better off with the booked flights, or Velocity points in the bank?

So my question is - stick or twist?

No right or wrong answers, just keen on opinions.

My 2c worth.

Personally, I am keeping my bookings for Dec/Jan. Unless you need the cash, or would prefer to hedge your exposure to VA going under, I would keep the bookings until closer to travel dates.

I wondered the same as to what will happen to my SQ flights redeemed with Velocity points if VA goes under. I didn’t managed to find a definitive answer. Some of my friends commented: even if your booking has been ticketed, SQ wouldn’t have the responsibility to keep the booking valid (as I guess they only recognise the revenue after you have taken the flight, e.g. SQ only collect “funds” from VFF after you have taken the flight). Unlike a revenue (cash) flight.

I suppose it will be at the mercy of SQ, whether they recognise the booking. Being one of VA’s shareholder might increase the chances of SQ allowing you to still fly with them on VFF bookings already made.

If anyone has a factual response to the question, I would be most interested.

Interesting question. I’ve got flights to Italy in September using QFF points going over, and Velocity Points coming back. I’m still keeping my flights at this stage as it’s such an unknown. I’m still crossing fingers at this stage.

Given the announcement that VA are suspending the ability to transfer Velocity points to Krisflyer (and limiting purchase of gift cards) - this poses a real dilemma… maybe they are gearing up for administration?

Checking my flights again, all my Velocity booked flights are on SIA metal. I wonder if this gives me better leverage in the event that VA go under. Understand it will be their discretion to honour, but I think that still sounds like better odds than a defunct carrier.

Not exactly the same, but I have a reward trip to Europe booked on Qatar, in business, in September return October, booked using Qantas points.
We’re like you and can’t decide what to do. If I cancel now I get hit with a 24,000 point charge, (2 tickets for 2 people).
I’m waiting, hoping that Qantas will extend their free cancellation policy to cover our flights, currently it runs to end July. Or will things have settled down to the point that travel will be possible in September? I suspect not. It may have done in Australia, but not in every country. Some are still in denial. And when you travel that far, you brush up against people from all different places not just the ones you’re going to/from. Will it really be safe until a vaccine is commonly available? Dunno.
I’m currently waiting till nearer the date. Probably make a final decision in August.
At least I don’t have the added complication of VA’s precarious financial situation. I think if I was you I’d just hang on. If you cancel you increase your points balance, which probably gets lost if VA folds. At least if you’ve got the flights locked in there’s a chance you can fly. If VA survive to August then you can still cancel and get the points back. If they fold, maybe you could negotiate with SQ for a credit???
I’m not sure w.hiew is correct, I would have thought that once the flight is ticketed then the airline supplying the points would have paid the airline supplying the ticket. Why would you supply a confirmed seat without receiving payment? Think of points as another payment type, like credit/debit card. They have to have the “money” before issuing the ticket. And once the transaction is completed SQ has got their money and they’ll carry you whether VA is still in existence or not.

Just my 2cents

Good luck

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Malcolm you won’t be charged the usual cancellation charge of 6,000 points with Qantas. I cancelled Emirates flights, booked with QFF points, for September and was not charged any points.

I called VA and they stated their covid-19 cancellation policy currently covers flights departing before to 30 June. If I were to change/cancel for a flight in Sep they would charge at this time. Recommended me to wait to see if that 30 June date will be extended.