If you’ve been saving up Asia Miles for a long-haul Cathay Pacific business class trip, the window to lock in current pricing is closing fast.
As of May 1, 2026, long-haul and ultra long-haul business class awards will increase by 2,000 to 4,000 Asia Miles. This is the third devaluation in under three years, following increases in October 2023 and April 2025, and it brings the cumulative increase on long-haul business class to roughly 40% compared to pre-October 2023 rates.
The pattern is becoming clear: Cathay Pacific appears to be shifting toward smaller, more frequent recalibrations rather than dramatic overhauls, making each individual change easier to overlook but harder to stomach when you zoom out.
What’s Changing for Canadian Travellers
Here’s what the new pricing looks like from Canada’s two major gateways.
From Vancouver (YVR), which falls in the 5,001 to 7,500 mile band, one-way business class to Hong Kong will rise from 88,000 to 91,000 Asia Miles. This same band covers other long-haul destinations like Amsterdam, Frankfurt, Milan, and Zurich.
From Toronto (YYZ), in the 7,501+ mile band, one-way business class to Hong Kong will increase from 115,000 to 119,000 Asia Miles.
It’s worth noting that from the east coast, the 7,501+ mile band also covers destinations well beyond Hong Kong, including London, Paris, Australia, and New Zealand. One-way business class all the way to Sydney or Auckland still maxes out at 119,000 Asia Miles, which remains a competitive redemption even after the increase. Check out the Asia Miles multi-carrier award chart for a full breakdown of every route and distance band.
The Full Picture
Business class isn’t the only cabin affected, and not every change is a devaluation. Here’s a broader look at what’s moving.
| Route | Cabin | Current (till April 30) | Revised (from May 1) | Change |
|---|---|---|---|---|
| Bangkok, Shanghai, Singapore | Premium Economy | 20,000 | 18,000 | -10% |
| Bangkok, Shanghai, Singapore | Business | 28,000 | 27,000 | -4% |
| Sydney, Melbourne | Business | 58,000 | 60,000 | +3% |
| London, Los Angeles, Vancouver | Business | 88,000 | 91,000 | +3% |
| Boston, New York, Toronto | Business | 115,000 | 119,000 | +3% |
Short-haul awards are actually coming down, which is a nice consolation if you’re connecting through Cathay Pacific’s hub. Those savings add up on a multi-segment itinerary.
Economy class awards remain unchanged across all distance bands, which is a relief for travellers who redeem Asia Miles for economy flights.
To put the long-haul increases in context, here’s how business class pricing has evolved over the past three devaluations.
| 5,001 to 7,500 mi (Vancouver) | 7,501+ mi (Toronto) | |
|---|---|---|
| Pre-October 2023 | 65,000 to 70,000 | 85,000 |
| October 2023 | 84,000 | 110,000 |
| April 2025 | 88,000 | 115,000 |
| May 2026 | 91,000 | 119,000 |
Since Cathay Pacific allows bookings up to 360 days in advance, you can lock in today’s rates for flights departing as late as April 2027, including March Break travel. That 360-day window is your best tool here.
The Transfer Ratio Picture
Adding to the pressure, American Express recently cut its US Membership Rewards transfer ratio to Asia Miles from 1:1 to 1:0.8. US-based collectors are now dealing with a weaker transfer ratio and higher award costs at the same time.
The picture is somewhat better for Canadians. RBC Avion points still transfer to Asia Miles at 1:1, making them the most efficient path to the program by a comfortable margin. Canadian Amex MR transfers at 1:0.75, which isn’t ideal but remains unchanged.
To book that 119,000 Asia Miles award from Toronto using RBC Avion, you’d need exactly 119,000 points. Through Canadian Amex MR, you’d need roughly 158,700 MR points for the same redemption, a significant premium that makes the RBC Avion Visa Infinite the clear card of choice here.
Our essential guide to Cathay Pacific Asia Miles covers how to search for availability and the best routes to target.
Why Asia Miles Still Has an Edge
One of the biggest advantages of booking through Asia Miles directly is access to Cathay Pacific’s generous award inventory. On most dates and routes, Cathay Pacific typically releases two business class seats, two premium economy seats, and at least four economy seats, significantly more than what partner programs can access.
That inventory advantage is especially valuable now that Cathay Pacific has begun rolling out its Aria Suites on the Hong Kong to Vancouver route, giving Canadians direct access to one of the most exciting new business class products in the sky.
If you’re looking at alternatives, Finnair Plus is a oneworld partner that can also book Cathay Pacific flights, though availability tends to be more limited. A flight from Vancouver or Toronto to Hong Kong can be booked for 85,000 Finnair Plus Avios, a lower sticker price with the trade-off of tighter seat availability.
Our guide to seven brilliant redemptions with Asia Miles is a good place to start for more creative routing ideas.
Bottom Line
If you have a Cathay Pacific business class redemption on your radar, especially for March Break 2027, the time to book is now while current award rates hold through April 30, 2026.
Three devaluations in under three years, each one modest enough to shrug off individually, but 40% in aggregate. If the pattern holds, the next adjustment is probably less than a year away. Lock in what you can while the 360-day booking window still works in your favour.
This story originally appeared on princeoftravel
