Singapore Airlines has introduced the option of bidding for Premium Economy seats for those that are ticketed in Economy.
The wording on the email that Singapore Airlines sent out hints that this may expand to other cabins in the future.
You can access Singapore Airlines web page for this product here.
Singapore Airlines uses PlusGrade to provide the service. I wrote about using PlusGrade for Etihad Business to First class upgrade here.
You can only place a bid for Singapore Airlines upgrade if you receive an email from them. You can then choose which segments to bid on and the money used for each segment.
There is the minimum accepted bid that Singapore Airlines has set that is on red and the maximum bid is on green.
Singapore Airlines states that you will only receive miles for the originally ticketed and not for the upgraded fare class. This is contradictory how it works with Etihad where you get elite and award miles for the upgraded class.
Singapore Airlines has been very protective of its business and first class cabins. There are no complimentary upgrades for KrisFlyer or PPS members. You can, however, use miles to upgrade if there is award availability in the higher class of service.
The airline must feel the heat from the ME3 (Emirates, Etihad and Qatar Airways) that have greatly expended their routes to Asia and Australia over the past decade or so that used to be SQ’s bread and butter. I have yet to come across a competitive fare from Singapore Airlines from Europe to Asia or Australasia compared to ME3 or other airlines.
Whether this mySQupgrade makes any sense depends entirely on the upgrade prices that Singapore Airlines dictates. If you have received invitation to upgrade, take few screenshots of the min/max prices and drop me an email. Would be interesting to learn if they are reasonable.