The value of those miles has also decreased, meaning it takes more miles to earn free tickets.
The value of your miles today is greater than it will be next week, next month and next year".
Both were close to the modern value of 92,955,859 miles, but precision is critical in astronomical terms.
I once priced the option value of buying miles in March (I suspect the airline had too).
The combined results from all the various missions were within about 4% of the modern accepted value of 93m miles (150m kilometres).
In both cases, however, there are fees that will partly offset the value of the miles, so check before you act.
We have informed them that they were stemming a current, that was against them to the value of three miles an hour and advised them to cross it and get out of it; but they were too wise to be counselled by simple American fishermen".
However, the most interesting result is that the perceived value of a miles program can be increased dramatically to the very customers that matter most to the airline: the ones with high likelihood of becoming Silver.
Launched in November 2011, the US-headquartered metasearch site Superfly lists airfares in order of "net value" – basically the cost of the ticket minus the cash value of the miles you could earn and someday redeem for rewards, such as free flights, seat upgrades and status upgrades.
In effect, the value of your miles is decreasing, and the trend isn't likely to reverse itself anytime soon.
