Rising jet fuel costs in Iran war cut value of airline miles for summer travel
By Main Street Independent
Travelers holding airline miles and credit card rewards points will find their balances purchase fewer flights this summer, as jet fuel prices elevated by the Iran war have pushed airfares 21% above year-earlier levels, the Labor Department reported.
A first-class or international seat that required 200,000 miles last summer now typically costs 400,000 miles, NerdWallet travel expert Sally French told the Associated Press.
Airlines have also raised fees for checked baggage; some now charge $45 for a first checked bag, and budget carriers charge $99 at the gate, French said.
Consumers seeking the best redemption value should book economy seats or be flexible on dates and destinations, travel experts advised.