Up till the end of today, we can purchase 35k Avios miles for 650 euro.

Now, normally I wouldn't bother, but with all the changes in Avios it seems to have become kind of interesting.

Buy flights
I can't see that it is particularly interesting to use miles for buying flights. For example, to buy an economy ticket BRU>BOS (my baseline route for all comparisons), I am going to have to pay 35k miles plus nearly 500 euro. Now a normal economy ticket is not much more than 500 euro. Or in business it will cost 60k miles and 1000 euro. So I see little value there.

Upgrading flights
But in upgrades it seems to have gotten much more interesting (as has kindly been pointed out to me by others on this forum).

So, if I buy Premium Economy and upgrade to Business with Avios for the BRU>BOS route, I pay (approximately):

• - 1200 euro for premium economy
• - 24500 Avios points for the upgrade to business
• + 16702 Avios points earned on the paid premium economy sectors
• = 1200 euro plus 7798 Avios points for business class

Since a business class ticket is about 2.5k I save 1300 euro on each flight and that costs me only 7798 miles per flight.

Now, since I can buy 35k Avios points for 650 euro, this is equivalent to about 4.4 upgrades which means that 650 euro is worth about 5720 euro (4.4 x 1300).

Did I get it right (self confessed numbers ignoramus)?