Aegean’s Miles+Bonus program is one of the most lucrative Star Alliance award programs in terms of the ease with which you can earn elite status, and also in terms of their redemption costs. The catch is that the program can be complicated, though that was improved in late 2017, when Aegean started allowing online award bookings.
Aegean has started to get aggressive with offering bonuses on purchased miles, though they don’t do so as frequently as some other programs. For example, last year we saw them offer anywhere from a 40% to 100% bonus on purchased miles. Meanwhile this year the biggest bonus I recall seeing is 40%… until now.
Aegean has just introduced their latest promotion on purchased miles.
Through Thursday, August 8, 2019, Aegean is offering up to a 50% bonus when you purchase miles (you have to log into your Miles+Bonus account to see this offer). You qualify for this bonus as long as you buy at least 2,000 miles in one transaction (pre-bonus).
This has the potential to be a good deal, though obviously it’s not quite as good when they offered a 100% bonus last year.
The number of Aegean miles you can buy per year ranges from 30,000 to 50,000 pre-bonus. If you haven’t had any activity on your account in the past year you’re limited to 30,000, while otherwise you can buy up to 50,000 pre-bonus.
Ordinarily Aegean charges 25EUR per 1,000 miles that you purchase. That means that if you had some activity and maxed out this promotion you could buy a total of 75,000 miles (including the 25,000 bonus miles) at a cost of 1,250EUR (~1,390USD), which is a cost of about ~1.85 cents (in USD) per mile.
I believe Aegean processes mileage purchases directly, meaning that buying miles with them should qualify as airfare spend. Therefore you’ll want to consider using one of the following cards for your purchase, since they offer the following bonus points for airfare spend:
|Card||Points earned on airfare spend|
|The Platinum Card® from American Express||5x Membership Rewards points per dollar spent|
|Citi Prestige Card||5x ThankYou points per dollar spent|
|American Express® Gold Card||3x Membership Rewards points per dollar spent|
|Chase Sapphire Reserve®||3x Ultimate Rewards points per dollar spent|
|Citi Premier℠ Card||3x ThankYou points per dollar spent|
|Chase Sapphire Preferred® Card||2x Ultimate Rewards points per dollar spent|
So while the cost to purchase Aegean miles with this promotion is ~1.98 cents per mile, you can potentially get an even better value if you pay with a card like The Platinum Card® from American Express, since you’d earn 5x Membership Rewards points. I value those points at 1.7 cents each, so to me that’s the equivalent of an additional 8.5% return.
As a reminder, here’s Aegean’s Star Alliance award chart, with roundtrip prices listed (you can fly one-way for half the cost of a roundtrip):
For example, you can redeem just 75,000 miles for a one-way first class ticket between Africa and the US on Lufthansa, so it could make sense to buy miles. Do note that Aegean charges the standard carrier imposed surcharges, though.
Redeeming Aegean miles for Lufthansa first class is a great deal
Aegean Miles+Bonus is an excellent frequent flyer program, and buying miles with them can make a lot of sense. While we have seen bigger bonuses on purchased miles in the past, this is the best promotion we’ve seen this year, as far as I know.
Does anyone plan on taking advantage of this Aegean promotion?