sdsearch is correct. A frequent flyer mile was and is about 2 cents ... depending on the flight. I never used miles for "cheap" flights, always went "far" (RSW-SEA, RSW-SFO etc.).

Our asset's value is dramatically decreasing.

An example:

BA MIA-LHR-CDG-LHR(stopover)-MIA = 50,000 BA Miles, which is OK. But on top of this $596.54 taxes, fees, charges and surcharges (as of 6/2/2008).
Bottom line: Book as fast as you can ... crude futures rose above $138 a barrel (source Bloomberg, 06/07/2008)
ingy:
I don't know in "what world" you are living ... and I don't want to bash you.
But it's a fact: Airlines are in a BIG TROUBLE! And they are not giving any gifts ... at least for now and the foreseeable future.