Qantas Airways got millions of its frequent flyer points off the books in its recently-concluded first ever points auction. Bidders forked over their hoards in return for charter flights, used A380 seats, a 787 flight simulator session and more.
Since issued points are carried as a liability on airline spreadsheets, it was an opportunity for the cash-strapped airline to clean up a bit while waiting for normal business and leisure travel to return.
The top price paid was 4.8 million points for a private charter flight to Byron Bay, Hamilton Island or Devonport. The pair of lie-flat A380 seats, which attracted spirited bidding and went for 2 million points, were a real win for the airline: they are left-overs from Qantas’ current refitting of its A380 cabins.
Last year, the airline made a tidy bundle selling off a thousand fully-stocked drinks carts from its retired 747s, and says it is planning more auctions.
