There are some interesting statistics in here. One thing that I thought was very interesting was that United values awards at, on average, about $83 (after taking into account deferred revenue for mileage sales).
If only I could by my tickets for that price. :-)
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by transpac:
At December 31, 2002, United's estimated outstanding number of awards was approximately 10.5 million, as compared with 11.1 million at the end of the prior year. United estimates approximately 8.6 million of these awards will ultimately be redeemed and, accordingly, the Company has recorded a liability of $717 million, which includes the deferred revenue from the sale of miles to program participants. ... In each of 2002, 2001 and 2000, 2.0 million Mileage Plus travel awards were used on United. ... These awards represented 7.8% of United's total revenue passenger miles in 2002, 8.1% in 2001, and 7.2% in 2000. ... Total miles redeemed for travel on United in 2002, including awards and upgrades, represented 59% of the total miles redeemed, of which 70% were used for travel withinthe U.S. and Canada. In addition to the awards issued for travel on United, approximately 24% of the total miles redeemed in 2002 were used for travel on partner airlines.</font>
corrected to fix posting error.
[This message has been edited by soitgoes (edited 07-15-2003).]
[This message has been edited by soitgoes (edited 07-15-2003).]