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Booking award travel on Cathay Pacific for 09/2021
We had flights booked on Cathay Pacific for June 2020 which were cancelled. We had transferred the miles from our Citibank account because this particular CP flight worked perfectly with our schedule. So we now have 130,000 miles in my AsiaMiles account and are looking to rebook flights for September 2021. There is wide open availability for one way JAL flights JFK to Tokyo for 75,000 miles each so we would only have to add another 20,000 points to book these flights. However, we are very concerned about booking flights so far in advance with Cathay Pacific because of their current financial situation with no significant recovery in sight. Should CP go bankrupt, JAL would not honor the award tickets and we would be out the 150,000 points. So my question to this forum is should we take the risk? Should we wait and hope that availability will hold until such time (and who knows when that might be) as more about the future of CP is known? Are CP’s investors going to continue to back the airline if the situation doesn’t improve? What is the real risk of CP declaring bankruptcy? Since we already have 130,000 miles in the account that we can’t move back into our Citibank account, in reality we’re only risking the additional 20,00 miles, but psychologically it feels like a relatively big risk. Any thoughts/suggestions/advice would be greatly appreciated.
I believe that AsiaMiles is operating independently (like many other loyalty programs) so CP disappearing doesn’t mean that AsiaMiles is going away, but somebody may want to confirm that.
[QUOTE=”Clem, post: 70580, member: 2278″]I believe that AsiaMiles is operating independently (like many other loyalty programs) so CP disappearing doesn’t mean that AsiaMiles is going away, but somebody may want to confirm that.[/QUOTE]
Thanks. Hopefully someone will confirm that information.
I saw this on “The Points Guy” website: “Its loyalty program — Asia Miles — is operated as a subsidiary of the company.” So does that mean the subsidiary will survive and still honor award flights if CP stops operating?