Delta SkyMiles Devaluation History

By Bryce Casson, Founder · Cardocrat · Updated August 2026
The short answer: Delta was the first major US airline to abolish its award chart, dropping it in 2015 and pioneering the dynamic pricing the rest of the industry copied. Since then SkyMiles have been devalued repeatedly: business-class awards to Europe that once cost around 60,000 miles each way now often run 200,000 to 300,000 or more, which is why frequent flyers call them SkyPesos.

The 2015 chart removal

In February 2015, Delta depublished its SkyMiles award chart, telling members they no longer needed one because the website would price each trip. It was the start of dynamic award pricing in the US, and a steady march toward award costs tied ever closer to the cash fare. Without a chart, there is no reference point and no way to plan, which is exactly what made the change so damaging. See best ways to use SkyMiles.

The business-class explosion

The clearest devaluation is in premium cabins. A Delta One business-class award between the US and Europe that was once bookable for roughly 60,000 miles each way ballooned to 120,000, then 200,000, and now frequently 300,000 SkyMiles or more on peak dates. Partner business awards have a floor around 95,000 miles one-way to Europe. The cabin did not change; the price simply tripled or more. See what points are worth.

What SkyMiles are worth now

Today SkyMiles return only around 1.1 cents each on average, slightly below other dynamic programs, and there is no chart to find a sweet spot. The practical approach is to earn SkyMiles only if you fly Delta, redeem them quickly for the best value you can find, especially the occasional TakeOff promotions and flash sales, and not hoard them. See earn and burn and the devaluation history overview.

See exactly what an award costs

Stop guessing at point values. Look up the real award price and live availability for a specific trip before you transfer.

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Frequently asked questions

When did Delta remove its award chart?
February 2015, making Delta the first major US airline to abolish its published award chart and move to dynamic pricing. The rest of the industry followed over the next several years.
Why are Delta SkyMiles called SkyPesos?
Because relentless devaluations have made them worth so little and so unpredictable. Business-class awards that once cost around 60,000 miles now often run 200,000 to 300,000 or more, eroding the currency the way inflation erodes a weak peso.
How much are Delta SkyMiles worth?
Around 1.1 cents each on average, slightly below other dynamic-pricing airline programs. With no award chart, there are no fixed sweet spots, so value swings with the cash fare.
Should I collect Delta SkyMiles?
Mainly if you fly Delta and will redeem quickly. Because there is no chart and the miles devalue, earn and burn rather than hoard, and watch for TakeOff promotions and flash sales for better-than-average value.

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Bryce Casson

Written by Bryce Casson, Founder of Cardocrat. About the author and how we rank cards.