It goes without saying that Singapore Airlines is in more than a little bit of trouble. Also obvious is that one of the first things that’s on every KrisFlyer member’s minds – at least those with a substantial number of miles in their KrisFlyer account – would probably be what happens to their KrisFlyer miles if the impossible happened and Singapore Air does indeed go belly up. In the unlikely event Singapore Air goes bust and doesn’t get rescued by someone with deep pockets, I’d imagine they’d undergo liquidation, and their assets would be sliced, quartered and sold to repay creditors. Are we creditors of Singapore Air if we have miles in their account redeemable for flights? I am not a lawyer/accountant but I am pretty sure this is a big fat no. As much as miles are worth money and their books probably list the outstanding miles of KrisFlyer...