Just last week I mentioned I use changedetection.com to track when websites update — like the Icelandair Saga Club site, waiting for the return of Alaska Airlines redemptions with those miles.
Over the summer you could straight up buy miles and redeem them on Alaska for first class to Hawaii for about $350.
This morning I got the alert. Icelandair brings back Alaska Airlines redemptions, effective January 20. Although they’ve raised the price of Alaska Airlines awards.
Alaska Airlines awards used to simply be 20,000 miles in coach and 30,000 in first class.
Here’s the thing. For some it may still make sense to buy Icelandair miles and redeem them for premium cabin travel on Alaska to Mexico or Hawaii.
Each 1000 miles costs 1500 Iceland Krona. (The cost of miles hasn’t gone up.) At current exchange rates that’s about 1.23 cents per mile. There’s a 2000 Krona per transaction fee as well or about $16.46. You can buy up to 100,000 miles per account per year, up to 50,000 per transaction. These are processed by Points.com so will not be treated as air for credit card spending bonuses.
It will take about $1000 in mileage purchases for a first class Hawaii award as a result. You may be able to reduce this cost by sharing miles, or when they again run a bonus on purchased miles as they were doing over the summer.
And anyone with leftover Icelandair miles has an opportunity to use them again in a reasonable way.
Presumably their routing rules haven’t changed. You’re permitted one stopover on an award, even a purely domestic U.S. award. But any connection over 4 hours is a stopover. You cannot have a connection in each direction greater than 4 hours as that would be two stopovers.