The news is out: Air France-KLM plans to become the majority owner of SAS by the second half of 2026. This move, while securing SAS’s future, has sent a wave of uncertainty through the frequent flyer community, especially among the 8 million members of SAS EuroBonus.

For years, EuroBonus members (and our users) have mastered the art of maximizing EuroBonus points, taking advantage of predictable award charts and unique perks, such as the Amex 2-for-1 voucher. Now, the prospect of being absorbed into the Flying Blue program looks serious. While SAS assures members that “EuroBonus will remain” for now, the strategic, financial, and historical realities of a full takeover point in one direction: a complete integration into Flying Blue. This isn’t a matter of if, but when and how.

At AwardFares, we’ve seen and experienced firsthand similar transitions. This definitive guide aims to provide the most comprehensive analysis available. We will answer key questions every member is asking, offer a deep-dive comparison of the programs, explore historical precedents to understand the future, and give you a clear, actionable roadmap to navigate this transition and protect the value you’ve worked hard to accumulate.

Key Highlights

  • EuroBonus Merger is Highly Likely: Despite short-term assurances, historical precedent and business strategy point to EuroBonus being fully absorbed into Flying Blue.
  • Prepare for Dynamic Pricing: If programs merge, say goodbye to fixed award charts. Your points will have fluctuating value, likely meaning higher prices for premium awards and the end of predictable “sweet spots.”
  • Different Elite Status Rules: Flying Blue’s XP system rewards high spend on premium tickets, potentially devaluing the loyalty of frequent regional travelers.
  • Key Perks Are at Risk: The Amex 2-for-1 voucher, accessible Lifetime Gold, and status gifting are highly unlikely to survive the transition in their current form.
  • Action is Required: You need a strategy to EARN key benefits now, BURN points on high-value redemptions, and PLAN for the new Flying Blue reality.

In This Article

What Will Happen if EuroBonus is Merged Into Flying Blue? Key Questions Every EuroBonus Member Is Asking

1. What will happen to my EuroBonus points?

Your points will likely be converted into Flying Blue miles. While a 1:1 conversion ratio is common in airline mergers, the key issue is not the ratio but the purchasing power. Due to Flying Blue’s dynamic pricing, your converted points will likely buy you less, especially for premium cabin awards, representing a significant devaluation. If that’s the case, the era of fixed-price “sweet spot” redemptions will end.

2. What will happen to my EuroBonus Lifetime Gold status?

This is a major concern given that Flying Blue doesn’t offer any “Gold for Life” or equivalent to Lifetime Gold. Instead, Flying Blue has its own “Platinum for Life” status, which requires 10 consecutive years at their highest Platinum tier, a much harder level to achieve than EuroBonus Gold. It is possible that existing EuroBonus Lifetime Gold members will be “grandfathered” into Flying Blue Gold for Life, preserving basic benefits but not mapping to the more exclusive Platinum tier. Your progress toward Lifetime Gold is unlikely to carry over, making this a critical “last chance” period to complete your qualification.

EuroBonus Lifetime Gold progress

3. What is going to happen to the SAS American Express 2-for-1 voucher?

The Amex 2-for-1 voucher is an exceptionally generous perk unlikely to survive a merger. Air France-KLM’s own co-brand credit card portfolio has nothing comparable. Expect this benefit to be discontinued once the programs are integrated. It is a financial liability that a large, consolidated airline group is heavily incentivized to remove.

SAS EuroBonus Amex 2-for-1 voucher

4. What will happen to the SAS EuroBonus co-branded credit cards? (Amex, Mastercard, DNB, and Lunar bank?)

The existing portfolio of SAS EuroBonus credit cards will undergo a fundamental transformation. It is highly unlikely they will continue in their present form. Air France-KLM will want to align the card offerings with its own Flying Blue program and its existing banking partnerships.

  • Re-branding or Discontinuation: The cards will either be discontinued, or the issuing banks (Amex, SEB Kort, DNB, etc.) will have to negotiate new agreements to issue Flying Blue-branded cards.
  • Loss of Core EuroBonus Perks: The most significant change will be the loss of benefits unique to EuroBonus. The Amex 2-for-1 voucher and the Mastercard Fly Premium benefit are not features of the Flying Blue program and are almost certain to be eliminated.
  • New Earning and Benefit Structure: The new cards will adopt Flying Blue’s earning rates and benefits, which may include things like bonus XP for cardholders, but will eliminate the current EuroBonus-specific advantages.
SAS EuroBonus co-branded credit cards.

5. Will my EuroBonus Diamond or Pandion status be recognized?

Mapping top-tier status is a delicate process. EuroBonus Diamond will likely be mapped to Flying Blue Platinum. The invitation-only Pandion status is a wild card, it should logically be mapped to Flying Blue’s equivalent top-tier, Ultimate. However, the qualification and requalification rules will change to follow Flying Blue’s spend-focused XP system, which could make it harder for current Diamond members to retain the equivalent status.

Since Pandion isn’t an “earned” status, while Ultimate is, there’s a risk that Pandion status holders are downgraded and not matched at all to Ultimate.

6. How will my award tickets be priced in the future?

Expect a complete shift from EuroBonus’s predictable, zone-based award charts to Flying Blue’s dynamic pricing model. This means the number of miles needed for a flight will fluctuate constantly based on demand, seasonality, and cash price. “Sweet spots” will be much harder to find, replaced by occasional “Promo Rewards” that require flexibility and luck.

7. Will I still be able to qualify for elite status by flying many short flights?

Most likely no, this might be one of the biggest changes. EuroBonus rewards frequency (45 flights for Gold). Flying Blue’s XP system rewards spending and distance, particularly in premium cabins. A frequent flyer on short-haul economy routes will find it much harder to qualify for status in Flying Blue than in EuroBonus.

EuroBonus Status Levels

8. What happens to EuroBonus Point Sharing?

EuroBonus allows flexible point pooling with up to eight family members or friends. While Flying Blue has a “Family Account,” it is typically stricter. Be prepared to find that the more flexible aspects of EuroBonus Point Sharing to be retired in favor of Flying Blue’s more restrictive family-only system.

9. What about the Fly Premium benefit on SAS Mastercards?

The “Fly Premium” benefit, which allows booking higher cabins for lower-tier points, is tied directly to the SAS EuroBonus Mastercard. As this is not a feature of Flying Blue’s ecosystem, it is highly unlikely to survive the integration. One possibility is that they keep the Fly Premium benefit for SAS flights specifically, at least for some time.

The Fundamental Differences: EuroBonus vs. Flying Blue

To understand the gravity of these changes, one must recognize that these two programs are built on fundamentally different philosophies.

SAS logo

SAS EuroBonus

The Currency: A Fixed-Price Menu

EuroBonus operates on a zone-based award chart. A Business Class flight to Japan costs a predictable 165,000 points. This provides certainty and allows for strategic, long-term point accumulation toward a clear goal.

Case Study: CPH to JFK

A round-trip partner Business award costs a fixed 100,000 points, regardless of the cash price. You know exactly what you need to earn.

The Path to Status: The Frequent Flyer

Built for the frequent regional traveler, status can be achieved via 45 flight segments. It rewards loyalty and frequency over the price of a single ticket.

Traveler Profile: The Consultant

50 one-way flights a year between CPH and OSL easily secures Gold status. Flying Blue's model would only grant Silver.

Air France logo KLM logo

Air France-KLM Flying Blue

The Currency: A Stock Market

Flying Blue uses dynamic pricing. An award's cost fluctuates constantly based on demand and cash price. This creates a volatile environment where "sweet spots" are replaced by unpredictable Promo Rewards.

Case Study: CPH to JFK

The "starting" price may be 120,000 miles, but realistic prices often range from 200,000 to over 400,000 miles plus high fees. Predictability is lost.

The Path to Status: The High Spender

The Experience Points (XP) system is built for the premium, long-haul traveler. It rewards high spending and cabin class, not frequency.

Traveler Profile: The Executive

Just 3 round-trip Business Class flights a year to the US would secure Gold status, a goal unreachable for the frequent short-haul traveler.

Lessons from Past Loyalty Program Mergers

To predict the future of EuroBonus, we must study the past. Airline mergers and acquisitions have a consistent and predictable playbook for loyalty programs. The core lesson is almost always the same: to maximize efficiency and branding, the acquired airline’s program is absorbed into the parent company’s program. Unique benefits and favorable rules rarely survive.

2005

Air France & KLM

The Process: The legacy programs (Fréquence Plus and Flying Dutchman) were completely dissolved to create the new, unified Flying Blue program. Statuses were mapped, and miles were converted.

The Implication: This is the acquiring group's own playbook. It demonstrates a clear preference for a single, consolidated program, setting a direct precedent for the SAS integration.

2012

United & Continental

The Process: Continental's popular OnePass program was entirely folded into United's MileagePlus. While miles were transferred 1:1, many of OnePass's member-friendly policies and award routing rules were eliminated in favor of United's stricter system.

The Implication: The larger, acquiring program's rules and structure always prevail. The unique 'personality' and benefits of the smaller program are lost in favor of operational simplicity.

2015

American & US Airways

The Process: US Airways' Dividend Miles, beloved for its generous award chart and promotions, was absorbed into American's AAdvantage program.

The Implication: High-value sweet spots and exceptionally generous perks (like the EuroBonus Amex voucher) are seen as financial liabilities and are prime targets for elimination during a merger. Value is rationalized downwards.

2018

Virgin America & Alaska Airlines

The Process: Virgin America's Elevate program was discontinued on January 1, 2018, and fully merged into Alaska Airlines' Mileage Plan. Elevate points were converted to Mileage Plan miles at a 1-to-1.3 ratio.

The Implication: Even a brand with a strong, distinct personality like Virgin America is not immune to consolidation. While the conversion rate was favorable, the smaller program (Elevate) and its unique partner arrangements were ultimately terminated in favor of the acquiring airline's established program.

Ongoing

ITA Airways & Lufthansa

The Process: Following Lufthansa Group's acquisition of a 41% stake in ITA Airways in 2024, the process to merge ITA's Volare program into the much larger Miles & More has begun.Volare members can already earn and redeem miles on Lufthansa Group flights.

The Implication: This merger reinforces the playbook. The acquiring entity (Lufthansa) is systematically integrating the smaller airline's loyalty program into its own well-established system, with the ultimate goal of a single, unified program and ITA's entry into the Star Alliance.

Read More
Ongoing

Alaska & Hawaiian

The Process: Alaska has announced its intention to merge HawaiianMiles into Mileage Plan. They plan a 1:1 mile transfer and a status-matching system. Crucially, they intend to maintain a combined program with aspects from both, though details remain sparse.

The Implication: While promising a "best of both worlds" approach, the playbook still points to a single, unified program under the Alaska Mileage Plan brand. This reinforces that co-existence is not the long-term goal.

Read More
Ongoing

Korean Air & Asiana

The Process: After a lengthy approval process, the full integration of Asiana Club into Korean Air's SKYPASS is set to proceed over approximately two years. Status mapping and mile conversion are planned, but specific details on how Asiana's unique partner awards will be handled are still unclear.

The Implication: Even in a complex, multi-year merger, the end goal is consolidation into one program. This serves as a model for the likely multi-year transition that SAS EuroBonus members will face.

Read More

A “wait-and-see” approach is a recipe for lost value. We recommend a proactive, three-phase strategy.

Tip for EuroBonus Fans

Use AwardFares to stay on top of this transition. Track award availability on all partners, find high-value redemptions for your points, and set alerts to grab the best seats before they’re gone. This is the most powerful tool for executing your “Burn” strategy effectively.

1

EARN Strategically

Now → End of 2025

Focus on achieving benefits that are about to disappear or become much harder to get. Create a "Final EuroBonus To-Do List."

  • Secure a Final Amex 2-for-1 Voucher: #1 priority. This immense value is very likely to vanish.
  • Lock In Lifetime Gold: If you're close, this is a critical moment. Your progress will likely be lost.
  • Gift Your Status: Use your Gold or Diamond gifting benefit before it's discontinued.
  • Maximize Partner Earning: Credit SkyTeam flights to EuroBonus now.
2

BURN Aggressively

Now → Early 2026

Your EuroBonus points are at their peak value right now. Hoarding them is a mistake. The shift to dynamic pricing is a guaranteed devaluation for premium redemptions. Spend them on high-value awards that leverage the current fixed chart.

3

PLAN and Adapt

Ongoing

Prepare for the new reality of Flying Blue. The landscape is changing, and you must adapt to protect your travel strategy.

  • Get Familiar with Flying Blue: Create an account now. Understand their system.
  • Master Promo Rewards: This is the key to value in the new system. Track the monthly deals.
  • Re-evaluate Your Wallet: The SAS cards might lose its core benefit. Research flexible alternatives.
  • Explore Other Programs: Consider Finnair Plus, Miles & More, or BA Club.

Top EuroBonus Redemptions to Book Before It’s Too Late

Your points must be used for redemptions that leverage the predictability and unique high-value spots of the current EuroBonus chart, value that will be impossible to replicate under Flying Blue.

1

The Fixed-Price SAS Business Award

Fly SAS Business to North America or Asia for only 100,000 points round-trip. This is your last chance to book your home carrier's premium product before it's subjected to the far higher prices of AF-KLM's algorithm.

Search Awards
2

Virgin Atlantic Business to the US

Fly two people in Upper Class to the US for just 130,000 points total with the Amex 2-for-1 voucher. This combines a fixed low price, a top-tier partner, and a voucher, three things at extreme risk.

Search Awards
3

Korean Air Business to the US

Book a round-trip from Asia to North America for a fixed 165,000 points. Under Flying Blue's dynamic model, similar trips can easily cost over 400,000 miles. A phenomenal hedge against points inflation.

Search Awards
4

Saudia Business to the US

An ultra-long-haul flight like JED-LAX for just 140,000 points round-trip yields astronomical value. Dynamic pricing is designed specifically to eliminate this exact type of underpriced sweet spot.

Search Awards
5

Stopovers with Garuda Indonesia

Use EuroBonus's generous stopover rules to build a multi-stop trip in Asia, or book a regional flight like CGK-HND for a fixed 90,000 points. This creative flexibility will be lost in Flying Blue's restrictive system.

Search Awards
6

Delta One Suites to Asia

Experience one of the best business class products in the sky. Delta One Suites offer a private, enclosed space with a full-height door, making long-haul travel exceptionally comfortable. Booking these seats via EuroBonus's fixed chart is a huge win before dynamic pricing takes over.

Search Awards

Mandatory Resources: Our Resource Superkit

While this guide provides the roadmap, the articles below offer the critical, in-depth details you’ll need. We’ve compiled our most essential posts to help you master the intricacies of both programs and make the most informed decisions during this transition.

What’s the Impact on European Travel and Loyalty?

The merger’s impact will extend beyond individual member accounts, reshaping the entire Nordic travel landscape.

📊

Nordic Travel Market

A vacuum is created, presenting a huge opportunity for competitors like Finnair Plus and Norwegian Reward to attract disillusioned SAS customers with aggressive marketing and status match offers.

💳

Credit Card Landscape

The SAS Amex and Mastercard will be fundamentally altered or discontinued. This opens the market for new Flying Blue-aligned cards, likely without the powerful 2-for-1 voucher that defined the old ecosystem.

🌐

Airline Alliances

This move solidifies SkyTeam's position in Northern Europe, creating a strong hub to compete with Star Alliance. Travelers will lose Lufthansa, Swiss access but gain Delta, Korean Air, and Virgin Atlantic.

Read More

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