QFF is going down - redeem your points quickly!

[PNGMK]

There's strong rumours going around the Australia FF community that Qantas is selling or shutting down it's QFF program (oddly enough the most profitable part of Qantas). Some of your may remember losing Ansett points in a similar scenario - the company was saying "hang onto them" but of course they were worthless once Ansett went into receivership. If the QFF program is "sold" there's no guarantee that the QFF points will have the same 'value'.

[Fortan]

There's strong rumours going around the Australia FF community that Qantas is selling or shutting down it's QFF program (oddly enough the most profitable part of Qantas). Some of your may remember losing Ansett points in a similar scenario - the company was saying "hang onto them" but of course they were worthless once Ansett went into receivership. If the QFF program is "sold" there's no guarantee that the QFF points will have the same 'value'.

Where did you hear this and how reliable is the information?

[PNGMK]

There's strong rumours going around the Australia FF community that Qantas is selling or shutting down it's QFF program (oddly enough the most profitable part of Qantas). Some of your may remember losing Ansett points in a similar scenario - the company was saying "hang onto them" but of course they were worthless once Ansett went into receivership. If the QFF program is "sold" there's no guarantee that the QFF points will have the same 'value'.

Where did you hear this and how reliable is the information?

It started from news.com.au

The few friends I have in Australia with high QFF point values are all cashing in.

Frankly although I've just cashed my points in I can see the store emptying in real time and I'm worried I won't get my goodies.

Aussies older than 35 will remember how bad the loss of points was when Ansett crashed.

[Beeroclock]

Thanks for the heads up, I always cash them in asap, since the rules continually change over the years.... I remember the good ole days when you could fly all the way around Australia for 30,000 points. I went Perth - Bris - Syd - Melb - Hob - Adl - Perth !

IMO the Qantas Freq Flyer program will be very unlikely to close down. It has been described as the most powerful customer marketing networks in the country and has a lot of intangible value. However selling it off could well be likely and in that case the trend of declining value for your points will most certainly continue.

[Wd40]

This may be related to the fact that Quantas shares today fell 11%, its going to report a loss and job losses as well. Australian economy in general is on the downturn and so is the AUD.

There are reports of AUD reaching parity with the NZD:
http://www.bloomberg.com/news/2013-12-0 ... redit.html

Fogged the miles, if you have AUDs in your account, quickly convert them to SGD.

[aster]

This may be related to the fact that Quantas shares today fell 11%, its going to report a loss and job losses as well. Australian economy in general is on the downturn and so is the AUD.

There are reports of AUD reaching parity with the NZD:
http://www.bloomberg.com/news/2013-12-0 ... redit.html

Fogged the miles, if you have AUDs in your account, quickly convert them to SGD.

Should have sold off the AUD a lot time ago. I converted all of mine into USD above parity.

Australia really messed up the entire mining/resources industry. Instead of giving away all those natural resources in return for a shovel and a paycheck it should have followed Norway's example.

[Beeroclock]

I'm not so sure I'd rush to convert aud to sgd today, exchange rate of 1.135 is a 4 year low. Even though oz cash rate is also at long term lows you can still pick up 4+% interest versus next to nothing here. But you are right the trend is down and oz reserve bank seems intent to talk it down further if they can.

Re: qantas what a shame, have to agree with Richard Branson the company has been poorly managed. Even now making excuses and wanting govt help to handicap competitors instead of taking a hard look in the mirror. Hope the CEO will be removed soon.

[BoroBoy]

Convert them to bitcoins

[Wd40]

http://www.foxnews.com/leisure/2013/12/ ... a-by-2017/

More trouble for Australian economy and Ozzie dollar.

[PrimroseHill]

AUD is too reliant on China and what it can dug up of the ground.
An Australian friend once told me, why should Australia care, all it has to do is dig something up, anything and send it off to China. That will balance the books.
Unions are too strong.
Qantas is a crap airline even in business class. Management is poor. Service is bad really bad.

[zzm9980]

http://www.foxnews.com/leisure/2013/12/11/gm-to-stop-making-cars-in-australia-by-2017/

More trouble for Australian economy and Ozzie dollar.

Given the very low cost of global shipping I'm not surprised.

[Beeroclock]

Yes maybe I will have to retract my earlier comment about hanging onto your AUD's, it doesn't seem to be rebounding as yet and still plumbing new lows at 1.13 SGD! Perhaps your advice was better WD40....

Australian economy definitely has long-term challenges ahead, what comes next after the resources boom??? But in short-term, it is still one of the better managed developed economies (referring more to Reserve Bank than the politicians). When RBA starts lifting cash rates next year (interest rates are currently at historic lows) the AUD should be more favourable again, but they will hope it goes lower and stays low as long as possible to help the economy. Also worth noting it has not resorted to experimental economics of 0% interest and money printing to get by. It's refreshing that 2.5% p.a. is considered a bottom of cycle interest rate. No-one really knows how these unconventional measures, i.e. QE, will eventually pan out.

[PNGMK]

Australian economy is 12th largest in the world and the ASX is the world's 6th largest. It's not a peanut economy but sometimes feels like it's run that way.

[ScoobyDoes]

Australian economy is 12th largest in the world and the ASX is the world's 6th largest. It's not a peanut economy but sometimes feels like it's run that way.

Or to put it another, the US is still the world's largest economy......but it's still bankrupt.

[Wd40]

AUD made a fresh 3 yr low against USD today.