Originally Posted by
lucky9876coins
These devaluations happen all the time, and it comes in the form of miles required for award redemptions. The last one happened in October of 2006, IIRC, where we saw Europe F awards go from 100K to 120K, Australia F go from 120K to 140K, etc. I doubt they'll change the earnings, but just the miles required for redemption.
This also make more sense as it affects future and past miles. Bigger bang for the airlines buck. It will also reduce the impact since a lower percentage of customers are redeeming miles for flights then are earning miles for flights at any given time. Win-win for the airlines.