Alitalia is offering 50% off all economy ‘classic’ (capacity controlled) redemptions booked by January 15 for travel through March 24.
Somehow this promotion has been around for awhile and I wasn’t aware of it, but it certainly provides real value for instance U.S. to Italy in coach runs 25,000 miles roundtrip instead of 50,000. (A one-way ticket under this promo runs 15,000 miles.) The offer is available on Alitalia flights only, not on partners or codeshares, and isn’t available on intra-Italy domestic routes or between Italy and France.
Alitalia is an American Express Membership Rewards transfer partner and a Starwood Preferred Guest transfer partner, among others. Just 20,000 Starwood points are enough for a roundtrip coach ticket between the US and Italy with this offer.