Delta SkyMiles has long been one of the least valuable programs in the SkyTeam alliance. On its own flights, Delta One business class between the US and China can cost as little as 120k miles or as much as 480k miles. In practice, SkyMiles are usually only a decent deal for US-China redemptions in economy or sometimes premium economy.

When Delta’s own pricing is bad, partner awards are what save the day. So a lot of the time, Delta’s “SkyPesos” are best used for premium-cabin partner awards. Previously, US-China partner redemptions were 85k + YQ, which was at least somewhat easier to swallow.

But just a few days ago, DL, which does not publish a fixed award chart, suddenly carried out a major devaluation on partner awards across regions. It also introduced a new 21-day and 60-day rule tied to departure date.

US-China / US-Asia

This route mainly features three airlines: Korean Air KE, China Eastern MU, and China Airlines CI. All three offer solid premium cabins, and there are also quite a few flights.

Using LAX-ICN as an example, before this devaluation, a one-way economy award was 35,000 and a one-way business-class award was 85,000.

But now:

Travel within 21 days: economy 50,000; business unknown, but Europe pricing suggests 195,000...Travel from 21 to 60 days out: economy 45,000; business may be comparable to Europe at 170,000...Travel more than 60 days out: economy 40,000; business 102,500

US-Europe

Using LAX-LHR as an example, before this devaluation, a one-way economy award was 25,000 and a one-way business-class award was 75,000.

But now:

Travel within 21 days: economy 55,000; business 195,000Travel from 21 to 60 days out: economy 40,000; business 170,000

Travel more than 60 days out: economy 35,000; business 95,000

Summary

The broader trend is that points and miles keep getting less valuable, and the unusual circumstances of 2020 only accelerated airline devaluations. But Delta’s move is especially shameless, and the nickname “SkyPesos” is well deserved.

Now UA has already started moving in DL’s direction, and AA will probably follow soon. Hopefully everyone redeems their miles sooner rather than later instead of stockpiling them. The more you hoard, the more room airlines have to devalue, which is basically giving them more free money. The more you burn, the better your response is to their devaluations.