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NZ Airpoints get converted (in just over a week's time). For all except aussies it is 75 points = 1 airbuck (airpoint dollar). Rate is less for australians as they use australian currency equivalent.
So that 200,000 points becomes 2666 airbucks.
But good point about the any seat redemption. Earning is also substantially improved for premium fares (eg around 3-4 times base economy earning for biz and first).
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