I'm trying to do fair math on whether the 30k Chase deal is worth it.

I find that the taxes are a red herring, as they are the same no matter what the airline is (I think). Fly biz, and stay two days in London and wham!, no matter who you fly.

So if the fuel surcharge is the big difference, and I'm allowed (I think) a free stopover in LHR from LAX (on BA), then LAX-FCO on BA with the 30k cert in J would be $410 each in fees beyond what I'd pay via AA. With the new one way flight on AA, it's both 120k. So I'd pay $205 x 2 (for RT) x 2 (for two people) or $820 for a J ticket (vs. AA with no surcharge) worth 120k miles. Around .7 cents a mile.

Is my math right? If so, I'd like to see more of it by other posters.

Likewise, if I'm considering LAX-MLE (Maldives), that would be $820 for the second ticket, for a ticket worth 180k miles (in business class), or about .5 cents a mile. Sweet.

Going first class would make the fees about .3 cents a mile. Not sure I think first is worth the extra miles (even considering the 2 fer) but it does make the fuel charges less of an issue.

There are probably a few other fees to figure in, but isn't that extra LAX-MLE ticket business class ticket cheap even if I have to pay $1400 between taxes and fees for the two tickets?

I think if you talk about the opportunity cost re 2% cashback on the $30k spend ($600), you'd have to compare it to the cash price of the ticket. I think I know how that would come out.