The Value of a Frequent Flyer Mile...Officially!

The value of a frequent flyer mile has generally been estimated at a penny or two. It's hard to say, precisely, because the airlines keep shifting the reward requirements and mile assignment policies. And, of course, the airlines never assign hard value to their award miles.

But while reading through the fine print of a "Million Miles Sweepstakes" sponsored by Continental Airlines and TripAdvisor.com, I noticed the airline was forced to quantify the value. Since the grand prize is a million miles plus $5000, and they value the grand prize at $25,000, that values each mile at two cents.

I'm just sayin'....