What to do with FF miles if airline is bankrupt?

[Firepath]

I’ve been earning and saving American Airlines miles for a European flight after my retirement in a few years. I now have over 100k miles with no plans to fly anytime soon. I’m hearing rumors that AA may not make it through this pandemic. If I use my AA miles now to book a future flight (maximum is about 11 mos. from now) on a partner airline, will that partner trip using AA miles still be valid if AA is bankrupt but the partner isn’t? I’d hate to lose all those miles.

 

[Luanne]

Maybe this will help.

https://thepointsguy.com/news/airline-bankruptcy-points-miles/

 

[Talent312]

I suspect that if AA files, the partnerships will end (up to them).
But AA itself will continue to fly under Chapter 11 (for a while).
They'll likely honor points -- they'll try to keep business travellers.

OTOH, a ticket in hand gives you a leg up in the pecking order.
It's like a bond -- not a guarantee, but a safer than a mere credit.
IOW, don't wait too long.
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