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Airline miles can save a significant amount of money on travel. They are also, for all intents and purposes, a currency: something that can be exchanged for goods and services, just like actual dollars. But unlike dollars, they don’t have a value everybody understands and shares.
So we crunched the numbers to come up with a monetary value for one of the most widely held airline currencies, Delta Air Lines’ SkyMiles®. Miles can be redeemed for free flights, so their value corresponds to the cash price of a given flight divided by the miles the airline charges for the same flight.