The partnership between Qantas and Emirates has not only opened up dozens of new routes and one-stop flights into Europe and the UK, it also lets Qantas Frequent Flyers earn points and status credits when travelling with Emirates.
But there's a catch – and it's a big one.
Depending on something as rudimentary as the two letters which appear before your flight number, you could either be earning a full serve of Qantas points and status credits – or less than half as many points and no status credits.
Here's what you need to know before booking your next flight to Dubai or beyond with Qantas or Emirates.
Code Red (Roo): why the QF codeshare counts
Central to the Qantas/Emirates alliance was a codeshare agreement, which in plain English means that Emirates flights can carry a Qantas flight number – one that starts with the letters QF – in addition to Emirates' 'native' EK flight number.
For example, the evening Emirates flight EK413 from Sydney to Dubai also carries the Qantas flight number of QF8413 (as it happens, all four-digit Qantas flight numbers beginning with '8' are actually Emirates flights).
Travellers can book onto the same flight under either the EK or QF code, but which one they choose makes a substantial difference to the number of Qantas frequent flyer points and status credits earned.
Let's say you're a Gold-grade Qantas Frequent Flyer travelling in Emirates business class from Sydney to Frankfurt.
If this is booked as an Emirates flight with the EK flight numbers stamped on your e-ticket – such as EK413 from Sydney to Dubai and then EK045 onwards to Frankfurt – you'll earn a total of 13,250 Qantas Points and zero status credits, as shown below by Qantas' own online points calculator.
However, the Qantas-Emirates partnership allows this same journey to be booked using QF flight numbers through Qantas or a Qantas travel agent.
You'll be travelling on the same Emirates flights with the same aircraft, except those flights will be tagged on your itinerary and e-ticket as QF8413 and QF8045.
Your haul almost doubles to 27,900 Qantas Points and you'll pocket 280 status credits – just by specifying the Qantas QF flight numbers instead of the native Emirates EK ones, as we've highlighted below.
(Added incentive: if that Sydney-Frankfurt flight is a return trip you'll earn 560 status credits, putting you just 40 short of re-qualifying for Gold status or getting you almost halfway to qualifying for Platinum status).
The easiest way to compare your haul of points and status credits between Qantas and Emirates flights over specific routes is using the Qantas' online calculator, as we've done here.
Just plug in where you're flying from and to – specify your Qantas Frequent Flyer status and the tye of fare – and flick between the QF and EK drop-down menu.
Note that this codeshare arrangement also applies to the Sydney-London and Melbourne-London routes flown by both Qantas and Emirates.
But while Qantas has one daily flight on each route, Emirates offers several – at times that may be better suited to your schedule than Qantas' roster, and on its A380s with an arguably better business class...
... plus the delightful diversion of an inflight bar.
So if you'd prefer to head to London's Heathrow Airport on Emirates' A380 rather than Qantas you can still book that trip under the QF flight numbers to earn the same number of Qantas points and status credit as if you were on QF1 or QF9.
(Just check that you're getting an A380 experience all the way – out of Sydney, for example, look for EK413/EK001 and EK415/005 to enjoy a superjumbo on both the Sydney-Dubai and Dubai-London legs).
- We reveal the best business class seats on Emirates' Airbus A380
- The five best credit cards for earning Qantas Frequent Flyer points
- Australia's best credit cards for earning Emirates Skywards miles
- Emirates reveals its new Boeing 777 business class seat
This article has been updated with the latest calculations of Qantas Points and Status Credits as at April 2016.
Follow Australian Business Traveller on Twitter: we're @AusBT
About David Flynn
David Flynn is the editor of Australian Business Traveller and a bit of a travel tragic with a weakness for good coffee, shopping and lychee martinis.