A few friends and I have been trying to get to Chile for the last few years. Trips in 2020 and 2021 were cancelled. Award flights to Chile recently became available for Oct 2022. They were very nicely priced at Round-trip 40,000 in Economy and 90,000 in Business GRR - SCL. I put Business class flights on hold for myself and one friend on Wednesday. I was unable to touch base with my other friend who wants to join us. Lo and behold, on Thursday award pricing skyrocketed! 110,000 for Economy and 220,000 for Business. I did confirm the 90,000 Business flights for myself and one friend yesterday.

Does anyone think that this much higher award pricing is here to stay or is it a fluke? It seems crazy high as round-trip economy tickets to SCL are about $1,300, so 110,000 miles is a terrible deal. My other friend would really like to join us on our Chile trip using award miles, but not at those award prices.