Are my KrisFlyer miles safe amid COVID-19? Will my miles get devalued after travel starts again?

Saw this recent post by the Milelion on this topic as well, he will be covering a more in-depth look at this but here's the summary:

"Are my KrisFlyer miles safe?"

That's what a lot of people are asking in light of Covid-19.

Although no one knows for sure, I think it's highly unlikely we'll see a devaluation for a couple of years at least. I lay out my reasoning in this updated post, but to summarise:

• The trigger for devaluations is too many miles chasing too few seats. Load factors aren't expected to return to normal for at least 3-4 years, which means lower opportunity cost of award seats

• With fewer people buying plane tickets, selling miles to banks will become even more important for airlines. A devaluation so soon after Covid-19 would jeopardize this revenue stream

• New features like KrisFlyer Experiences provide outlets for burning miles on the ground, reducing the pressure on award seats

Of course, there are other factors to consider too, e.g whether social distancing on planes will reduce seats available for awards.

I'm hoping to put these questions to some experts at an upcoming online panel. Stay tuned!​​​

Must be pretty worthless these days, to do an overseas trip these days you had to endure quarantine of X days in destination country , and quarantine Y days back in your home country.

Level of service on flight had to be compromised due to covid-19 precautionary measures.

On top of that, with airlines losing money, restructuring of balance sheets etc, any existing T&Cs on miles had a high probability of being invalidated