Change log — newest first
| Date | Programme | What changed | Effect on the value of the miles |
|---|---|---|---|
| 8 Sep 2026 | Flying Blue (Air France–KLM) | Awards on AF/KLM flights split into Light, Standard and Flex bundles. Light keeps today's mileage but loses changes, refunds, seat selection and (in Economy/Premium) the bag; Standard is the old ticket at ~25% more miles. Partner awards unchanged; pre-8 Sep tickets keep old terms. | Down ~20–25% for non-status members redeeming on AF/KLM metal; unchanged for elites and for partner awards. Our buy rate stays 1.45¢ for now. Full breakdown → |
| 31 Aug 2026 | Qantas Frequent Flyer | Qantas announced the Airbus A380 fleet will start retiring in 2028, four years earlier than planned. | No pricing change. Long-term, fewer first-class seats on Qantas metal from 2028; the Emirates first and business awards that Qantas Points buy today are unaffected. Emirates with Qantas Points → |
| 31 Mar 2026 | Qantas / Emirates | Dedicated Qantas–Emirates award chart introduced; from 18 Feb 2026 Emirates First on Qantas Points requires Qantas Silver. | Business awards unchanged in value; First now needs status. Live-checked rates on our Emirates guide. |
Programme rules are the airlines' own and change without notice; award prices on dynamic programmes move daily. Verify the live award price before buying miles for a specific trip. This page is updated monthly — the date at the top is the last check.
Why a broker tracks this
Every devaluation changes what a mile is worth in cash, which changes what we pay for it and what we charge. Our airline miles price index lists the trading rate for 16 programmes; when a programme's awards get more expensive, the rate here moves — usually with a lag of a few weeks as the market absorbs it. This page is the "why" behind those moves.
For buyers, the practical rule is the one in the Flying Blue entry: if you have a specific trip in mind and a change is announced with notice, buy and book before the date. Tickets keep the conditions they were issued with. For members holding miles in a programme that just devalued, the options are a partner redemption where nothing changed, a booking before the deadline, or selling — and we will tell you which is right rather than default to buying.
Frequently asked questions
Do devaluations affect miles I already hold?
Yes — miles are only worth what they can book, and if awards cost more the miles are worth less. Tickets already issued keep their conditions; unredeemed balances do not. Programmes usually give two to four weeks' notice, which is the window to book.
Does the Flying Blue change affect partner awards?
No. The Light/Standard/Flex bundles apply only to flights operated by Air France and KLM. Partner awards — SkyTeam and other Flying Blue partners — keep their existing pricing and conditions.
Will your miles prices change after a devaluation?
Sometimes. Our buy and sell rates follow the resale market, which reprices with a lag. We update the airline miles price index when a rate moves and note the reason here.
How do I know about the next change in time?
Airlines announce most changes with notice and email members. We add every material change to this page and, where it touches a trip people book through us, publish a full guide.