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Qantas Frequent Flyer is the frequent-flyer program of Australian flag carrier Qantas. Points are accrued based on distance flown, with bonuses that vary by travel class. Points are earned through members flying on Qantas, Oneworld and other partner airlines. [1] Points can be redeemed for flights or upgrades across these airlines.
On 26 October 2015 Woolworths announced that, from 1 January 2016, customer loyalty cards would no longer earn Qantas Frequent Flyer points. Instead they will receive more discounts on groceries. The new discount program came into effect on 28 October 2015. Everyday Rewards cardholders will be sent new 'Woolworths Rewards' cards. [15]
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On 31 October 2012, the Qantas Staff Credit Union registered the business name Qantas Credit Union, [7] and, from late 2012, it traded as the Qantas Credit Union, with the re-branding completed in 2013. [citation needed] By 2014, the organisation had grown to 90,000 members and, by then, two-thirds of members were not employed by Qantas. [8]
Unlike unused gift cards, in whose case the breakage in certain U.S. states goes to the state's treasury, [131] unredeemed credit card points are retained by the issuer. [132] A 2010 public policy study conducted by the Federal Reserve concluded cash back reward programs result in a monetary transfer from low-income to high-income households.
S&P downgraded Qantas credit from BBB− (the lowest investment grade) to BB+. [291] Moody's applied a similar downgrading a month later. [292] Losses continued into the 2014 reporting year, with the Qantas Group reporting a half year loss of A$235 million (US$208 million) [293] and an eventual full year loss of A$2.84 billion. [294]
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