THIS DEAL IS NOW DEAD. SEE HERE FOR FINAL DETAILS.
Icelandair is running a promotion through September 28th where you’ll earn a 20% bonus when you buy their Saga Club miles (you need to first create an account on their website to be able to get to this page)…
Why do I mention this seemingly useless piece of information? Because it’s not useless. Icelandair sells their miles quite cheap…How cheap?
You can buy 25,000 miles + a 5,000 mile bonus for 39,500 Icelandic Krona. I’ll save you the Googling and tell you that that is $328.
Why do you want 30,000 Saga Club miles? Because as you see here, it will only cost you 30,000 Saga Club miles to get yourself a FIRST CLASS roundtrip ticket on Alaska Airlines to all of their destinations in the US (Alaska and Hawaii included), Canada and Mexico
to or from Seattle (see the full list here). Yes, I know it says “Continental U.S. and Canada” but I spoke with Icelandair and they said that the list of cities I linked to is actually the correct list of cities, and they include Hawaii, Mexico and Alaska. Coach tickets are 20,000 miles roundtrip ($228). There is a fuel surcharge, but it’s generally $40 or so.
Yes, you read that correctly: a roundtrip first class ticket to Hawaii will cost you $328.
You can purchase 100,000 miles per account per year.
Using those points on Icelandair isn’t bad either (chart here): JFK/WAS/MCO/MSP to Iceland is 50,000 points in coach ($541 to purchase those points), while a roundtrip ticket to most of Western Europe and Scandanavia is 60,000 points ($658). Not a crazy good deal, but if the seats are available during the summer season, that’s about half what you’d pay to actually buy a ticket.
But again – this would definitely be worth it for anyone in Seattle. Assuming seats are available, anywhere they fly from Seattle is just $328 for first class.
UPDATE 1: This may actually be good for anywhere Alaska flies (not just to/from Seattle). I have a call in to Icelandair. I’ll keep everyone posted.
UPDATE 2: I confirmed with Icelandair that you can fly anywhere for 20,000 miles in coach and 30,000 in first class ($228/$328 when you buy the miles). That’s a bargain.
UPDATE 3: Thought it would be helpful to link to my chart of which airlines fly from what cities to Hawaii.
UPDATE 4: The fine folks at Icelandair have contacted me with some additional information (they have been incredibly helpful) about airline tickets. They have lifted the 10 day restriction. Seriously, they’re good people, right? Also, for those of you with ExpertFlyer (or the like), their Alaska Airlines availability books into A for first class and W for economy. That should help you determine availability BEFORE you call them. They’re getting hammered with calls, so please be patient. I’ll add this to the FAQ.
UPDATE 5: Stopovers ARE permitted. Same rules as those found on Alaska Airlines. I’m also keeping a running FAQ here. In that post you’ll also see about how to get the price below $300.