Not a surprising development by any stretch, as inflation eventually takes over when the “currency” is available in such large volumes that the supply can’t keep up with the demand, but in this particular case, a very significant devaluation just happened for Continental OnePass members. Long considered one of the best redemption values in the industry, CO miles for Qantas rewards have been “enhanced” and the new numbers are scary bad. A first class reward went from 135K miles to 285K miles, an increase of over 100%. Coach and business class rewards went up by similar amounts. The new prices are probably “fair” all things considered, but a first class around the world reward is only 280K (admittedly no actual F flights since Continental doesn’t have access to the F seats on their partners) so the new reward level makes this the most expensive option out there. The new levels don’t kick in until February, but good luck finding availability between now and then – it was always hard and this will make it worse with a race to cash in.
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