All airlines are facing difficulties and as you all know. It was reported in the media that Malaysia Airlines Berhad (not Malaysia Airlines System which has already gone kaput) is facing some serious cash flow issues.
Singapore Airlines is also facing many challenges BUT there is a difference compared to other airlines. In Singapore Airlines’ case, investors are willing to throw money at them, so much so, Singapore Airlines just managed to raise SGD850 million (that;s about RM2.5 Billion!) through a Convertible Bond Issue.
All in all, Singapore Airlines has raised SGD12,200,000,000 during this crisis to stay afloat!!!
Now, why it is that many airlines are offering promos for their miles? The reason is that they are collecting money upfront (they are all short of cash). You see, when we convert our credit card reward points to air miles, the banks (card issuers) will need to purchase the air miles.
So, if you ask me, I am pretty confident that Singapore Airlines will ride out the current economic storm/crisis and become even stronger as “weaker” airlines close shop.
So, yes, I am converting my credit cards reward points to KrisFlyer Miles and I will tell you why:
- It is very seldom that we can get 15% Bonus KrisFlyer Miles Promotion.
- KrisFlyer redemption chart should inflate in the coming future. So, by us earning 15% Bonus Miles, at least it can offset the increase in KF miles required to redeem a flight in the future.
- With KrisFlyer Miles, we can fly NEW Suite Class. Click here to watch my YouTube Video on the Singapore Airlines NEW Suite Class London to Singapore.
The KrisFlyer Miles are good for 3 years. And if somehow we still cannot fly by then, we can always use the KrisFlyer Miles to go shopping at KrisShop where they offer really good options such as Apple products (MacBook and iPhone), Samsung smartphones (but I do not recommend you get a Singapore set if you want to play Samsung Pay Malaysia), Breitling watches, Bally leather good, Tumi bags, Remy Martin XO, the Best Whisky in the World 2015 by Kavalan and many many other wonderful stuff.
Below are 2 YouTube videos to show you what I have used my KrisFlyer Miles for since we can’t flu this year (2020).