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Previously, Singapore Airlines customers couldn’t redeem their KrisFlyer miles for the airline’s new premium economy product. However, they could redeem those miles for Singapore Suites, first class, business class and economy awards. But that’s changing very soon — effective May 24, travelers will be able to redeem their KrisFlyer miles for the Singapore premium economy. In addition, customers will also be able to upgrade their seat using miles from a paid premium economy to business class or from a coach to premium economy seat starting on June 1.
With Singapore Airlines’ new award chart, it’s easy to tell just how many points an outright award booking or upgrade will cost you — here is the chart for award tickets (effective May 24 for premium economy), and here is the award chart for upgrades (effective June 1). In addition, the carrier will do away with its “Full” economy awards, instead offering only Saver and Standard levels as of May 24. If you have a “Full” award that was booked before May 24, it will be rebooked as a Standard award and you’ll be refunded the difference in KrisFlyer miles. Here are some sample award rates:
San Francisco (SFO) to Singapore (SIN) One-Way
At the economy saver level, this ticket will cost you 35,000 KrisFlyer miles, and a cash ticket can be found for around $735. With the new premium economy award chart, you can book this route for 65,000 KrisFlyer miles or around $1,241. Based on TPG’s latest valuation of KrisFlyer miles at 1.5 cents apiece, you’d be best off booking both as an award ticket, even before factoring in the 15% mileage discount you’ll get for booking Singapore-operated awards online.
You could also choose to upgrade from economy to premium economy on this route for 32,500 miles (again, before the 15% online booking discount). Or, you could choose to upgrade from premium economy to business class for 45,000 miles. Or, a final option is to upgrade from economy to business class for 65,000 miles — an option that was already available prior to June 1.
Singapore (SIN) to Sydney (SYD) One-Way
At the economy saver level, this ticket will cost you 25,000 KrisFlyer miles, and a cash ticket can be found for around 400 SGD (~$292). With the new premium economy award chart, you can book this route for 45,000 KrisFlyer miles or around 1,387 SGD ($1,013). Based on TPG’s latest valuation, you’re probably best off paying cash for the economy ticket, but you’re much better off booking an award ticket for premium economy.
You could also choose to upgrade from economy to premium economy on this route for 22,500 miles. Or, you could choose to upgrade from premium economy to business class for 30,000 miles. Or, a final option is to upgrade from economy to business class for 45,000 miles — an option that was already available prior to June 1.
Bottom Line
This is a great addition by Singapore Airlines, and one that is worth taking advantage of if you have plans to fly with the carrier any time soon. By getting rid of the “Full” fare, SQ is eliminating some alarmingly high rates — and, it doesn’t hurt that the airline’s refunding the difference for already-booked tickets, as well. TPG Special Contributor Eric Rosen flew Singapore Airlines’ Premium Economy product from Singapore to Hong Kong and enjoyed the product, but said it might not be worth the high price. That being said, it makes the new award redemption option that much more valuable.
Don’t forget that you can transfer points from Chase Ultimate Rewards, Amex Membership Rewards, Citi ThankYou Rewards and Starwood Preferred Guest to Singapore KrisFlyer. Although you can transfer points from all of the major points-earning programs, you’re probably best off transferring points from your Citi ThankYou account, as ThankYou points are worth the least in TPG’s latest monthly valuations at 1.6 cents apiece. Even if you transfer 20,000 Starpoints and get the 5,000-point bonus, you’re still coming out behind because Starpoints are worth so much — 2.5 cents apiece. You can earn ThankYou points with cards like the Citi Prestige, Citi ThankYou Premier and the Citi ThankYou Preferred card. Remember that Citi ThankYou points take two days to transfer to Singapore KrisFlyer.
Source: thepointsguy.com