I tend to agree with dhammer53 that the value of miles has dropped significantly, perhaps to zero. The airlines were already under financial pressure before this weeks' tragic events; the pressures are now more intense and will get worse as the public curtails its flying. Frequent flyer benefits are likely to be cut as airlines scale back flight schedules, lay-off employees, and attempt to increase load factors. This morning CO announced it was laying off 20% of its work force and dropping a number of flights from its schedule. I would not be surprised if at least one major airline pulled the plug entirely on its FF program in the next 6-9 months. Once that happens, the rest will follow.