BMI Diamond Club is, until 30th June, allowing you to buy BMI miles with a 20% bonus (log-in to www.flybmi.com to see this, there is a link at the bottom of your activity chart under Your Activities). Why is this interesting, you say?
Well, from 3rd July you will be able to convert Diamond Club miles into Avios on a 1:1 basis, with no fee. The cheapest deal is for buying the maximum 24,000 miles, which comes out at £255, although it is not a lot more expensive per mile to buy fewer. This is a touch over 1p per Avios.
I usually say that I value an Avios at around 0.75p. However, this is a purposely conservative estimate to ensure that I don’t overpay. If I was taking part in some Tesco promotion or similar, I would want to be paying 0.5p or less to justify the time involved. Using an Amex 2-4-1 on your redemption, though, would double the values I give above, and of course if you need to buy some miles to reach the required level for an award, it is an even better deal.
I am not jumping in on this deal, with over 2.5m Avios and DC miles in the bank. However, after 3rd July, the only way to buy Avios will be via ba.com. And that will cost you £399 for 24,000, rather than £255 via the deal above.