Cathay Pacific Asia Miles jacks up premium award prices

Cathay Pacific hiked Asia Miles award prices on October 1, 2023, and it aimed squarely at the front of the plane. Premium-cabin redemptions rose 20-30% on average, with some distance zones spiking as much as 40% one-way. Economy awards stayed mostly untouched.

That targeting matters. The people who hoard Asia Miles are, almost by definition, saving for a business or first-class splurge — and those are exactly the awards that just got 20-40% more expensive. If you were sitting on a balance earmarked for a lie-flat seat, your miles bought less overnight.

Two things soften the blow. Cathay gave advance notice — rare generosity in an industry that prefers midnight devaluations. And afterward it published a real award chart instead of retreating into opaque, dynamic pricing.

Our take: a 20-40% premium-cabin hike is a major nerf, full stop. But a program that devalues transparently and keeps a published chart still beats one that hides the prices. Burn earlier, hoard less.