Dynamic Pricing vs Award Charts

• Award chart: fixed prices by region or distance and cabin, with seats capacity-controlled, so the question is availability rather than price. British Airways, Alaska, Qatar, Cathay, JAL, Qantas (Classic), Turkish, KrisFlyer (Saver and Advantage) and Korean Air still publish one for their own flights.
• Dynamic pricing: no table; the miles price tracks demand or the cash fare and can be any number. Delta (since 2015), United (since November 2019), Flying Blue (since 2018), Emirates and Virgin Atlantic for its own flights (since October 30, 2024) work this way.
• Hybrid: dynamic pricing on the program's own airline with a fixed chart for partners. American (own flights dynamic since 2023, partner chart kept), Aeroplan (Air Canada and select partners "starting at" pricing since March 2025, fixed table for the rest), Miles & More (Lufthansa Group flexible since June 3, 2025, partner chart kept), Etihad (variable since 2018, partner charts kept) and Virgin Atlantic (own flights dynamic, ANA and Delta charts kept).

The award chart references label every program with its model and link to the official chart or pricing page.

Airline terms now say so plainly. American's AAdvantage terms, effective March 1, 2026, state that "the number of miles required for a flight award may be higher depending on the availability" and that all redemption opportunities "are determined by American Airlines in its sole discretion". Delta's program rules contain no chart at all and direct members to delta.com for current pricing. Qantas describes its Classic Plus rewards as fluctuating "like a commercial fare".

The commercial logic is simple. A chart caps what the airline can charge on peak dates and forces it to release saver seats to keep members engaged. Dynamic pricing lets the airline sell any seat for miles at a price tied to what the seat would fetch in cash, which is usually more miles for the seats people want and occasionally fewer for the seats nobody does.

Under a chart, a premium cabin award has a ceiling: 60,000 Aeroplan points for Lufthansa business class to Europe, 52,500 Virgin points for ANA business from the West Coast, 25,000 Turkish miles for a US domestic flight to Hawaii. Under dynamic pricing there is no ceiling, and the same seat can cost 170,000 SkyMiles on a peak date and 85,000 on an empty one.

The practical effects, which show up in every published valuation:

• Dynamic currencies are valued lower. Delta SkyMiles and United miles sit at the bottom of most valuation tables at 1.1 to 1.3 cents, while chart currencies with strong partners (Alaska, Aeroplan, Virgin Atlantic, KrisFlyer) sit at 1.4 to 1.8 cents.
• Dynamic pricing rewards flexibility and punishes fixed plans. Off-peak economy awards on Delta and United are often cheap; peak-date business class is where the value disappears.
• Partner charts become the escape hatch. Delta seats through Virgin Atlantic, United seats through Aeroplan or Turkish, American seats through British Airways, Etihad or Qatar Avios all keep fixed prices that the operating airline no longer offers its own members.
• Devaluations arrive without notice. A chart change is announced and dated; a dynamic price simply moves. Miles held for a future trip carry the risk that the trip costs more by the time it is booked.

• Keep points in bank currencies until you have a seat. Chase, Amex, Capital One, Citi and Bilt points can go to a chart program when a chart program has the seat; miles already in Delta or United cannot go anywhere else.
• Book when you see the price you want. Under a chart you can wait for saver space to open; under dynamic pricing the price you see now may be the best you get.
• Use free cancellation. Delta, United and Alaska redeposit most awards free for US members, so a speculative booking at a good price costs nothing to hold.
• Do not stockpile. A large balance in a dynamic program is exposed to repricing and, for some programs, expiry. If the balance is more than a trip or two away from use, a fixed cash offer today can be worth more than its uncertain future value; that is what the sell miles quote form prices.

• February 2015: Delta removes its award charts.
• 2018: Flying Blue and Etihad move their own flights to variable pricing.
• November 15, 2019: United drops its award chart for its own flights.
• 2023: American moves its own flights to dynamic pricing while keeping the partner chart.
• October 30, 2024: Virgin Atlantic prices its own flights dynamically with Saver seats from 6,000 points.
• March 25, 2025: Aeroplan moves Air Canada and select partners to "starting at" pricing.
• June 3, 2025: Miles & More introduces flexible pricing on Lufthansa, SWISS, Austrian and Lufthansa City Airlines.
• November 1, 2025: KrisFlyer adds a dynamic "Access" level alongside its Saver and Advantage chart.
• September 8, 2026: Flying Blue adds Light, Standard and Flex award fares.