For points-and-miles travelers, late December often brings more than just holiday crowds and peak-season pricing. It’s also the time of year when airline loyalty programs quietly roll out changes that make award travel more expensive, and often with little warning.

This year is no exception. In recent weeks, both Turkish Airlines Miles&Smiles and The British Airways Club have introduced devaluations that materially reduce the value of their miles, especially for travelers who have relied on a handful of long-standing sweet spots.

 

Turkish Airlines Miles&Smiles: A Beloved Sweet Spot Gets Dismantled

For years, Turkish Airlines Miles&Smiles offered some of the best partner award pricing available—particularly for flights on Star Alliance partners within the U.S. and to Hawaii. That sweet spot is now largely gone.

What Changed

Turkish quietly overhauled its partner award pricing, increasing costs across the board and carving out a separate (and far more expensive) award zone for Hawaii.

Domestic U.S. Star Alliance partner awards (one way):
Economy	10,000 → 15,000 miles (+50%)
Business	15,000 → 22,500 miles (+50%)
First	First: 20,000 → 30,000 miles (+50%)

U.S. mainland ↔ Hawaii partner awards (one way):
Economy	10,000 → 25,000 miles (+150%)
Business	15,000 → 40,000 miles (+167%)
First	20,000 → 50,000 miles (+150%)

Before this change, travelers could sometimes book a United flight from the mainland to Hawaii for as few as 10,000 to 15,000 miles one-way. Now, those same routes require at least 25,000 miles in economy—and far more in premium cabins.

Why It Matters

This effectively eliminates one of the most talked-about sweet spots in the points world. Many travelers transferred flexible points into Miles&Smiles specifically for cheap domestic and Hawaii redemptions. After this devaluation, that strategy carries significantly more risk and far less upside.

 

 

British Airways Avios: Award Prices Edge Higher

British Airways didn’t blow up its program overnight—but the changes are still significant. Effective December 15, the airline increased Avios pricing across multiple distance bands, affecting flights on British Airways and many partner airlines.

Even with these increases, Avios remains valuable in the right situations, primarily when used strategically, as outlined in our guide to using British Airways Avios.

 

What Changed

Award prices rose up to 14% on many routes, often accompanied by higher taxes and carrier-imposed surcharges.

Short-haul European routes under 650 miles:
Economy	9,250 → 10,000 Avios
Business	15,000 → 16,500 Avios

Long-haul routes, including transatlantic flights:
Economy	50,000 → 55,000 Avios
Business	85,000 → 93,500 Avios
First	160,000 → 176,000 Avios

While these increases may look modest on paper, they add up quickly—especially in a program already known for high cash surcharges. Alongside higher Avios requirements, many British Airways award tickets are priced with higher taxes and carrier-imposed fees, so travelers often pay more points and more cash for the same flights. For frequent Avios users or those booking long-haul routes, that combination noticeably reduces overall value.

 

 

Why Holiday Devaluations Hurt More

Devaluations are frustrating at any time, but they sting more during the holidays. Travelers are actively planning trips, searching for award space, and deciding whether to transfer points out of flexible bank programs.

When pricing changes land during this window, travelers can feel rushed into transfers or redemptions—sometimes locking themselves into programs that just became less valuable.

Devaluations can feel alarming in the moment, but they’re a recurring part of airline loyalty programs. Remember, the sky is not falling in the world of points and miles.

 

How To Hedge Against Airline Devaluations

No points strategy is completely devaluation-proof, but there are ways you can reduce your exposure.

• Prioritize transferable points: Flexible bank points give you options. Once you transfer to an airline, you’re locked into that program’s rules—even if they change overnight.
• Don’t hoard airline miles: Miles aren’t an investment. Large balances with no near-term plan are especially vulnerable to sudden value loss.
• Book when the math works—even if plans aren’t final: Many airline programs allow free or low-cost award cancellations. Locking in a strong redemption now can protect you from future devaluations.
• Expect volatility from certain programs: Programs without published award charts—or with frequent “quiet updates”—tend to devalue more often. That doesn’t mean they’re unusable, but timing becomes critical.
• Diversify how you redeem: Relying on a single airline program leaves you exposed. Mixing airline redemptions with hotels, alternative partners or even cash-back options can help smooth out the risk.

 

What These Devaluations Mean for Your Points Strategy

Devaluations may feel like an unwelcome holiday tradition, but they don’t have to derail your entire points strategy. The travelers who fare best aren’t chasing every sweet spot—they’re staying flexible, booking when value appears, and avoiding over-commitment to any one program.

The Turkish Airlines devaluation was first reported by Loyalty Lobby.

Want to compare notes or share how these changes are affecting your own redemptions? Join the conversation in the Points Talk Squad Facebook group, where members are already discussing recent airline devaluations and how they’re adjusting their strategies.

 

 

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