Work out airline miles value instantly with clear inputs, formula shown and shareable results.
Redemption value per mile is the cash price avoided, less the taxes still payable, divided by the miles spent. Anything above 1.5p per mile is a good redemption; below 1p it is usually better to pay cash and keep the miles.
Miles value
value per mile = (cash price - award taxes) / miles required
Because you still pay them on an award ticket. Ignoring them overstates the value of the redemption, sometimes substantially on long-haul.
Premium cabin long-haul, where cash prices are disproportionately high relative to the miles required. Short-haul economy is usually poor value.