By Bryce Casson, Founder · Cardocrat · Updated June 2026
The short answer: Lufthansa Miles & More ran a stable fixed award chart for years, with only a moderate 2019 change, then devalued sharply on June 3, 2025 by moving Lufthansa, SWISS, Austrian, and CityLine flights to dynamic, cash-linked pricing. It also eliminated its Mileage Bargains discounts and Flex Plus awards, with some premium awards roughly doubling. Partner awards still follow a chart, which is now the main source of value.
Years of stability, then dynamic pricing
Miles & More was long one of the more stable European programs, with a fixed award chart and only a moderate devaluation in 2019. That changed on June 3, 2025, when Lufthansa moved award pricing on its own group airlines, Lufthansa, SWISS, Austrian, and Lufthansa CityLine, from the fixed chart to dynamic pricing tied to the cash fare. As across the rest of the industry, dynamic pricing removed the predictability and pushed premium-cabin awards higher, with some first-class redemptions roughly doubling.
The discounts that vanished
The 2025 change did more than introduce dynamic pricing. Miles & More eliminated its Mileage Bargains program, a monthly set of discounted city pairs that was one of the best ways to get outsized value, and it scrapped Flex Plus awards. For a program whose first-class awards and monthly bargains were its signature redemptions, losing them was a real blow to everyday value. See flying Lufthansa First with points.
Where value remains
The saving grace is that awards on Star Alliance partners other than the Lufthansa Group still follow an award chart, and in some cases economy partner rates actually fell even as premium rates rose. The play now is to use Miles & More for partner awards on the chart rather than dynamically priced Lufthansa Group metal, and to transfer in only for a confirmed booking. Miles & More feeds from its co-branded cards and a few transfer partners abroad. See the devaluation overview.
Frequently asked questions
Did Lufthansa Miles & More devalue?
Yes. On June 3, 2025 it moved award pricing on Lufthansa, SWISS, Austrian, and CityLine flights from a fixed chart to dynamic, cash-linked pricing, and it eliminated its Mileage Bargains discounts and Flex Plus awards. Some premium awards roughly doubled.
Does Miles & More still have an award chart?
Partly. Lufthansa Group flights are now dynamically priced, but awards on other Star Alliance partners still follow a published chart, which is where most of the remaining value sits, especially for partner premium cabins.
What were Mileage Bargains?
A monthly Miles & More promotion offering discounted award city pairs, often in premium cabins, and one of the program best-value redemptions. Lufthansa eliminated Mileage Bargains as part of the June 2025 devaluation.
How should I use Miles & More miles now?
Use them for partner awards that still follow the chart rather than dynamically priced Lufthansa Group flights, and transfer in only when you have a confirmed booking, since dynamic pricing means the cost can move.
Bryce Casson, Founder of Cardocrat. Every card is ranked by what it actually returns, with all points valued at a flat 1 cent and offers verified against issuer sources. About the author.
