KrisFlyer Devaluation 2022: ~10% Increase in Redemption Cost
An email came in a couple of days ago announcing revisions to KrisFlyer’s redemption rates. Most of us are familiar with how businesses and the government alike use the word “revision”, and mile chasers have been bracing for such a thing for some time now. Devaluation is upon us and from 5th July 2022, SQ flights will take more KrisFlyer miles to redeem.
Average increase of 10% in miles required
Singapore Air states that the average increase is about 10%. Looking at some one-way business class saver redemptions, 10% seems more like the lower limit rather than the average:
| Destination (one-way, Saver business class) | Before 5th July 2022 | After 5th July 2022 | Increase |
| Philippines, Thailand, Vietnam, Myanmar, Cambodia & Laos | 21,500 | 24,000 | 2,500 (🔺11.6%) |
| Tokyo & Korea | 47,000 | 52,000 | 5,000 (🔺10.6%) |
| Europe | 92,000 | 103,500 | 11,500 (🔺12.5%) |
| USA (West Coast) & Canada | 95,000 | 107,000 | 12,000 (🔺12.6%) |
Economy is less hit by the devaluation, with nearby flights more expensive by 8%, and longer distance ones up by about 10.5% in cost:
| Destination (one-way, Saver economy class) | Before 5th July 2022 | After 5th July 2022 | Increase |
| Philippines, Thailand, Vietnam, Myanmar, Cambodia & Laos | 12,500 | 13,500 | 1,000 (🔺8%) |
| Tokyo & Korea | 25,000 | 27,000 | 2,000 (🔺8%) |
| Europe | 38,000 | 42,000 | 4,000 (🔺10.5%) |
| USA (West Coast) & Canada | 38,000 | 42,000 | 4,000 (🔺10.5%) |
You can view the current and revised charts to compare the rate of increase across different destinations in different flight classes, and it seems to be anywhere between 10 to 12% increase.
Book and ticket before 5th July
If you manage to lock in your booking before 5th July (latest date 4th July), you will be redeeming at the current rates. If you flight is waitlisted, it needs to be cleared by end of 4th July to qualify for the old rates, otherwise the new rate will be charged.
For flights successfully booked before the date, you can also make changes to it subsequently without having to pay the new rates. This means that it is possible to preemptively book a flight under the current rates, then subsequently change it (by paying a change fee) when your schedule becomes clearer to save on your miles.
Conclusion
If you have KrisFlyer miles and intend to travel, now would be a good time to consider booking your flights in advance to save on some miles. Otherwise, regular devaluations every now and then are part and parcel of the miles game which one should always consider when collecting/buying miles.
Other airlines could now be more attractive too, especially given the current transfer bonus promos. Singapore Air’s monthly Spontaneous Escapes also discounts the cost of redemptions, usually to the tune of 30%, so it may also be worth it to wait for that for July trips.
There will be impact to the value of miles, and how mile cards stack up against cashback ones, so stay tuned for further analysis.
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