JetPrivilege, the frequent flyer program of Jet Airways, has an interesting history. Before Etihad had invested in Jet Airways, Naresh Goyal had plans to IPO the loyalty program and to run it independent of Jet Airways. This would have been one of the rare cases of an airline loyalty program being listed.
In 2012 when Etihad bought 24% stake in Jet Airways, it also bought 50.1% stake in JetPrivilege. In other words, Etihad became the controlling shareholder of JetPrivilege.
Etihad Assures that JetPrivilege is Going Nowhere …
As of today, Jet Airways has finally suspended operations. The fate of the airline along with thousands of its employees hang in balance. A lot of its customers are worried about the future of their JetPrivilege miles (also called JPMiles). Some even converted their JPMiles to Amazon vouchers at a pretty poor conversion rate.
As the majority owner of JetPrivilege, Etihad has sought to contain the rumors. I received an e-mail from JetPrivilege which stated
“Jet Privilege Pvt. Ltd. is a separate, independent entity part of the Etihad Aviation Group formed with the sole purpose to market, develop and grow JetPrivilege – an internationally acclaimed award-winning loyalty and rewards program.
It’s our foremost responsibility to safeguard your faith & would like to assure you that your JPMiles are safe and that we are committed to fulfilling your aspirations.
So, don’t stop collecting & redeeming your JP Miles for all your favorite rewards and create memories for a lifetime!”
I have about 80,000 JPMiles in my kitty, so I am comforted by this.
Although, I was secretly hoping Etihad would let me convert my JPMiles to Etihad Guest miles. After all, Etihad Guest is one of the most versatile airline currency to hold. You may read my ultimate guide to redeem Etihad miles – Part 1, Part 2 and Part 3.
Sadly, it wasn’t to be.
… However, JetPrivilege Miles Have Been Devalued
JetPrivilege also put out a rather confusing table on the e-mail I received.
|Sector||Standard Flights#||Select Flights##|
|Mumbai – Delhi||8,500 JPMiles||Starts from 8,500 JPMiles|
|Mumbai – Goa||5,000 JPMiles||Starts from 5,000 JPMiles|
|Kolkata – Delhi||9,500 JPMiles||Starts from 9,500 JPMiles|
|Bengaluru – Delhi||12,000 JPMiles||Starts from 12,000 JPMiles|
|Mumbai – London||42,500 JPMiles||Starts from 42,500 JPMiles|
|Delhi – Singapore||30,000 JPMiles||Starts from 30,000 JPMiles|
#Standard Flight awards on Jet Airways can be booked online through jetairways.com or jetprivilege.com or through the JetPrivilege Service Centre. Standard Flights on Airline Partners can be booked only through the JetPrivilege Service Centre.
##Select Flight awards can be booked only through jetprivilege.com
In essence, if Jet Airways is not operating, the second column is useless. Standard flights cannot be booked till then. At least, this is my understanding of the situation.
Select flights are open seats on other airlines which JetPrivilege will buy for you. While it increases your options, the value received is lower. You can fly on AirAsia, Air India, Indigo, Spicejet and even Qatar Airways. Let us see some examples
|Sector||Minimum Miles Required on May 2, 2019||Price for Revenue Ticket|
|Mumbai – Delhi||15,000 JPMiles||INR 5,270 / $75|
|Mumbai – Goa||12,500 JPMiles||INR 3,940 / $56|
|Kolkata – Delhi||9,500 JPMiles||INR 3,484 / $50|
|Bengaluru – Delhi||12,000 JPMiles||INR 5,479 / $78|
|Mumbai – London||177,500 JPMiles||INR 52,396 / $749|
|Delhi – Singapore||56,250 JPMiles||INR 24,276 / $347|
The best value you can get from per JPMile is INR 0.45 / 0.65 cents. I think it is still better than converting your miles to Amazon vouchers.
It is good news for Jet Airways frequent flyers that their miles are safe. It is obvious that many wouldn’t be pleased by the apparent devaluation. However, it is still miles (pun intended) better than getting no value at all.