This isn't breaking news but figured with the implementation a month away we could use a reminder. So, starting 8/1, AA will be changing the EQM/RDM/EQP earning rates on three Qantas fare classes. Under the old system, O faresearned 50% EQM/RDM and .5 EQP. Under the new system, O fares now only earn 25% EQM/RDM but still earn .5 EQP, i.e. a reduction in earning potential. Under the old system, N faresearned no EQM/RDM/EQP. Under the new system, N fares now earn 50% EQM/RDM and .5 EQP, so this is an increase in earning potential. And finally under the old system, Q fares earned no EQM/RDM/EQP. Under the new system, Q fares now earn 25% EQM/RDM and .5 EQP, so this is also an increase in earning potential. So overall, one devaluation and two upgrades. Keep in mind that this has no bearing on Qantas flights that are booked under an AA codeshare flight number – these flights continue to earn as if you were flying on AA metal.