Business the play 33,000 pts Cathay Pacific nonstop (oneworld), Standard award
33,000 Standard one-way to CX's own hub (type-2 band; type 1 pays 27,000) — the best rate on this corridor after the 1-May-2026 devaluation and the India premium. SBI's 1:1 makes it a ₹33,000-equivalent flat bed; HDFC and Amex haircut to 2:1. Book the moment Standard space opens.
Feed it: 66,000 Amex Membership Rewards (2:1) · 33,000 SBI Travel Credits (1:1) · 1,58,400 RBL Reward Points (4.8:1 via Club ITC → Marriott Bonvoy)
Air India metal (Star Alliance partner award)
BOM–HKG's 2,655 great-circle miles land in the 2,501–5,000-mile Atlantic–Pacific band — 75,000 post-June-2026, no surcharges, on Air India metal (Cathay isn't Star). The same seat from Delhi books at 47,500 because 2,328 miles stays under the 2,500 line: the band cliff, ex-Mumbai. Asia Miles wins; this is the Aeroplan-balance fallback.
Feed it: 37,500 Axis EDGE Miles (1:2) · 75,000 SBI Travel Credits (1:1) · 1,87,500 Axis EDGE Reward Points (5:2)
Economy the play 13,000 pts Cathay Pacific nonstop (oneworld), Standard award
13,000 Standard in the 751–2,750-mile "type 2" band — Cathay's India surcharge (type 1 pays 9,000). BOM–HKG's ~2,655 miles stay inside the band, so Mumbai prices like Delhi. Charts unpublished since May 2026; Standard space is capped, and dynamic "Choice" pricing takes over once it's gone.
Feed it: 26,000 Amex Membership Rewards (2:1) · 13,000 SBI Travel Credits (1:1) · 62,401 RBL Reward Points (4.8:1 via Club ITC → Marriott Bonvoy)
Air India nonstop (Star Alliance), Value tier
Hong Kong sits on the April-2026 chart's flat 30,000-point East Asia economy tier — 2.3× Cathay's Standard rate for the same nonstop. The East Asia business tier still isn't published route-level; we list what we can verify.
Feed it: 30,000 IndusInd Reward Points (1:1) · 15,000 Axis EDGE Miles (1:2) · 30,000 ICICI Reward Points (1:1)