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How Much Are Points Worth? (Quarter 1 2023)

How Much Are Points Worth? (Quarter 1 2023)

Now that Quarter 1 of 2023 has arrived, it’s once again time to revisit our Points Valuations, which we update on a quarterly basis.

During the previous quarter, there wasn’t too much movement in the loyalty landscape. Several programs signalled possible shifts to take place, but nothing of note has since materialized.

Alaska Airlines Mileage Plan unveiled a new award chart, but there hasn’t been any material changes as of yet. We are all anxiously awaiting Marriott Bonvoy’s full transition to dynamic pricing, which is expected to roll out in the near future.

Otherwise, the loyalty scene remains fairly stable once again this quarter.

Before we delve into the valuations, I should remind you that the focus of these valuations lies in the target redemption value of each points currency, rather than the acquisition cost that you might incur (which can vary significantly depending on how you prefer to earn points).


Aeroplan was consistently in the news feed over the last quarter of 2022. The loyalty program added partnerships with Bamboo Airways, Emirates, and SunExpress, inching the total number of partner airlines closer to 50.

In 2023, Emirates First Class will become available using Aeroplan points, albeit with a separate (and more costly) award chart. With the recent brutal devaluation of Emirates Skywards, Aeroplan will establish itself as the loyalty program of choice for premium cabin bookings on Emirates going forward.

Furthermore, we also saw the unveiling of widespread business class award availability on long-haul Singapore Airlines routes, which is a welcome development for access to one of the world’s best airlines.

Aeroplan continues to dazzle with its ever-increasing list of partner airlines and the ease with which we can earn Aeroplan points.

Our valuation of Aeroplan points remains stable this quarter. However, there has been plenty of upward momentum in the program as of late, and this long-held valuation could change for the better in 2023 if the program reaches the impressive 50-partner mark.

  • Continued valuation: 1.6 cents/point (USD), 2.1 cents/point (CAD)

Air France/KLM Flying Blue

Air France/KLM Flying Blue miles continue to become more interesting and readily available in the North American context. Each month, the program unveils its Promo Rewards, which reduce the cost of redemptions on specific routes.

In December, the cost for a…

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