Qantas frequent flyers will need up to 20 per cent more points from August 5 to snag a free seat on a flight or an upgrade.
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It's the first time Qantas has devalued its points since 2019 and the second time since 2004.
The increases typically range between five per cent and 20 per cent with the change affecting partner airlines as well.
Qantas Loyalty CEO Andrew Glance said the adjustments were integral to the viability of the program.
"A lot has changed in the last six years," he said.
"These adjustments will ensure we can continue to invest in enhancing the program for the long term and continue to grow the levels of Classic and Classic Plus Reward seat availability for members year on year," he said.
If there was good news for travellers, it's that Economy Classic Flight Reward seats on Qantas' low-cost subsidiary Jetstar would drop from 6,400 Qantas Points to 5,700 Qantas Points on August 5.
Also, Qantas frequent flyers have been earning up to 25 per cent more points on Qantas domestic flights since July.
The full list of changes is found here.
Beating the devaluation
Executive Traveller editor-in-chief David Flynn told ACM that loyalty programs such as frequent flyer points were a "closed economy".
"Qantas creates the points, and the only way you can earn the points is through Qantas or its partners," he said.
"Because frequent flyer points are a closed economy, airlines have complete power to change the value of the points just like the government could change the purchasing power of the Aussie dollar."
This happens with all airlines ... Qantas is not alone in this; they are not the villain.
- David Flynn, Executive Traveller editor-in-chief
He advises people to book as much travel before August 5.
"You can book today for flights up to July next year at the lower rate of points," he said.
He advises people generally to avoid stockpiling points without a goal.
"Absolutely earn the points if you have a goal in mind," he said.
"But if they just keep earning and earning points, eventually at some stage those points will be devalued."
Carla Mascarenhas
Carla Mascarenhas is a journalist with Explore Travel and The Senior. She specialises in deep issues affecting Gen X and beyond, and the latest in travel news. Contact her on carla.mascarenhas@austcommunitymedia.com.au
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