Lufthansa has given advance notice of a modest Miles & More devaluation coming on 9th May.
Full details are on the Miles & More website here. To quote:
“The mileage amount on intercontinental flights will increase for return trips in Business Class by a total of 7,000 miles, and 12,000 miles in First Class.
On flights within a continent – with the exception of Europe – the mileage amount for return trips will increase by a total of 5,000 miles. For example, you can fly from Toronto to Los Angeles in Economy Class for 35,000 miles.
The “Round the World” flight award will increase by 10,000 miles in Business Class, and 20,000 miles in First Class.
The “three region” flight award will increase by 10,000 miles in Business Class, and 20,000 miles in First Class.”
Whether this impacts you depends on the routes you redeem. I only ever use Miles & More miles to get to the Middle East or United States. Looking at those two:
Business Class flights to the Middle East are UNCHANGED at 70,000 miles return. This makes them a steal compared to 100,000 Avios off-peak and 120,000 Avios peak.
First Class to the Middle East goes up very modestly from 125,000 miles to 130,000 miles return
Business Class to North America goes up from 105,000 miles to 112,000 miles return. This still represents very good value for US West Coast trips, but less so for the East Coast.
First Class to North America goes up to 182,000 miles return, from 170,000. Remember that Lufthansa First Class, if you can get that, is arguably the classiest in the sky and the First Class Terminal in Frankfurt is something worth trying if you can.
Miles & More miles were always a joke when used for European redemptions (35,000 miles for an Economy return from London to Frankfurt plus a lot of taxes) and nothing changes there!