In one of those “yes, there is a service for that!” discoveries, AU Abroad was recently introduced to iFLYflat, a program that offers “Financial Planning for Frequent Flyer Points”. We sat down with the Founder/CEO, Steve Hui, to talk about about how the program started and we get a look at how frequent and infrequent flyers alike can get the most out of them and the unique services his company offers.
How did this project start?
Pretty much how it all started was, when I first came out of Uni, my first job was in a wholesales travel agency… I don’t know whether you want the short or long version! [Laughs]
Short version! [Laughs]
Before 9/11, you could get some free flights from Ansett, flying Premium Economy or Upper Class, upstairs. I got to sit in the cockpit and I fell in love with travelling. My second major role was at Macquarie and I did an outsourcing project where they sent me to India a few times. I flew Business Class then. That’s when you can grow your frequent flyer points – you can do so much. I was starting to accumulate frequent flyer points and fly Business Class and build upon that whole love for travel.
So after that I thought, ‘Yep, that’s the way to fly’. So I left Macquarie after 11 years and I started developing a technique where you could use those points and actually put into practice some of the techniques where you could buy points for First Class and Business Class… and that’s probably where it comes to now. From there, I studied a lot of forums and blogs and figured out a way I could travel in the upper classes on a personal account and develop a process where I could help others do the same.
And that just seems that the business that has come out of that has grown so much, even in just the last few month.
I’ve definitely refined my message… the focus and demonstrating value of what I can actually do for you… accumulating more points, redeeming lower points… I refined those services I offer, to make it really easy.
As someone who travels a lot yourself and through all this research that you do, do you find that there is a specific program, which seems to work the best for people?
It’s a bit different, depending on which region you’re going to. Whether you’re going to America, Asia or Europe, there are actually different airlines which are better for each. And depending which airline you end up with, there are different credit cards that are better to earn points on. Some main airlines are fantastic. With Virgin Australia, Velocity is pretty good… it takes you to Los Angeles. In terms of points, if you’re going to central Hong Kong, Virgin Atlantic and Cathay are pretty good. Then there’s Singapore, to Singapore and to go to Europe, Emirates and actually Virgin again…
So, when it comes to this product, it really seems it’s aimed at the business traveller, the person whose travelling quiet regularly.
Not actually… It definitely helps the business traveller because he’s able to take advantage of using his points to fly and also buying points to fly. Also, for the small to medium business owner, who is spending money on operating his business but by picking the right credit card to put his expenses on, he can earn points and fund his annual holiday or holiday every two years. It’s not just about if you travel a lot, it helps if you also travel infrequently and you wanted to have that treatment… it’s awesome and practically free!
And of course there’s a lot of airlines that are doing bidding systems, using your points to bid for premium seats and things like that.
Yeah, yeah. People want to have more points… but actually I’m not a fan of those ones because it’s uncertain. So with the bidding, you don’t know if you’re going to win or not. I’m more about creating certainty… so when you book seating, it’s confirmed seating and you know your flights and the whole anticipation is quite special too.
Well it’s a fascinating product and I mean, what’s kind of next for it? It seems like you’re about to enter a pretty high profile phase now with all the media at the moment.
Yeah, what’s next is it gives me a better platform to help people manage points better. The publicity helps, because it helps people realize that points are an asset and should be looked after. I guess the end mission is to help people as much as possible but to also use the points for something ‘WOW’. Don’t waste them, save them. Use them for something that you may not want to pay for – save them for Business or First Class that you’re going to remember for the next ten years, which you’re not going to pay fifteen grand for. That’s what I want people to do.
That’s right, instead of just wasting them on the cheap hotel or whenever it might be through those redemption options.
Yeah, it should be like a saving plan where, if you’re saving, you’re getting something much more valuable and much more ‘wow’ for a better price – or even for nothing.
So do you employ others now or do you still handle it mostly yourself?
Yeah, we now have five staff in the team.
Congratulations! That is, of course, a big step forward!
Yeah, it got me thinking that if this company is adding value to people – and the feedback says it is – it’s a good feeling that now I can look after people with employment too.
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To learn more about how iFLYflat can help your manage your frequent flyer points, head to http://www.iflyflat.com.au/
