Qantas Frequent Flyer Devaluation History

By Bryce Casson, Founder · Cardocrat · Updated August 2026
The short answer: Qantas Frequent Flyer was unusually stable, barely changing its Classic Reward chart for over a decade, then devalued three times in recent years: up to 15 percent in 2019, up to 15 percent in July 2024, and a broad 15 to 20 percent in August 2025. Premium cabins on long-haul routes took the biggest hits, though Qantas still keeps a chart with generous stopovers.

A long-stable chart

Qantas Frequent Flyer was known for rarely changing its Classic Flight Reward award chart, with the 2019 increase being the first major adjustment since around 2004. That stability made it a reliable program for booking Qantas first and business class and Oneworld partners on points. The calm did not last. See Qantas First guide.

Three recent hikes

On September 18, 2019, Qantas raised Classic Reward pricing in premium economy, business, and first by up to 15 percent. On July 1, 2024, it raised international Classic Reward prices by up to 15 percent again, with business and first on long-haul routes hit hardest, after about six weeks notice. Then on August 5, 2025, a sweeping overhaul devalued most redemptions by 15 to 20 percent. See award charts.

What remains

Qantas still uses a published chart with generous stopover rules and broad Oneworld access, so it remains a solid program for premium awards and multi-city trips, just at higher prices after three increases in six years. Points come from Qantas co-brand cards and some transferable currencies abroad. Book premium awards when the price still beats alternatives. See the devaluation overview.

Frequently asked questions

Did Qantas Frequent Flyer devalue?
Yes, three times recently after years of stability: up to 15 percent in September 2019, up to 15 percent in July 2024, and a broad 15 to 20 percent in August 2025, with premium long-haul cabins hit hardest.
When did Qantas last raise award prices?
August 5, 2025, in a sweeping overhaul that devalued most Classic Flight Reward redemptions by 15 to 20 percent. That followed increases in July 2024 and September 2019.
Was Qantas award pricing stable before?
Yes, unusually so. The 2019 increase was the first major adjustment since around 2004, so Qantas held its Classic Reward chart roughly steady for about 15 years before the recent run of devaluations.
Is Qantas Frequent Flyer still good?
Yes, it keeps a chart with generous stopovers and broad Oneworld access, so it remains solid for premium and multi-city awards, though prices are 15 to 20 percent higher after the recent increases.

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Bryce Casson

Written by Bryce Casson, Founder of Cardocrat. About the author and how we rank cards.