Aeromexico transfer bonus

I just now noticed while logged in to American Express' website that AeroMexico has a 20% transfer bonus running until March. I've used the Amex transfer twice now to fly from NYC to Mexico City on their new 787. It's one of the few intra-North American routes that has long-haul international seating and service. 

In my experience, Business Class award availability on this flight is wide-open (there's no First Class on this flight). You need 48,000 AeroKilometros for a one-way flight in Business. What's odd to me about the Amex transfer is that the points transfer at a 1:1.6 ratio (the same as miles-to-kilometers) – meaning that I transfer in 30,000 Amex points and 48,000 AeroKilometros show up in my account. With a 20% bonus, I should only need to 25,000 Amex points for that same flight. Sadly I just got back from Mexico so I won't have the chance to take advantage of this. (As I've mentioned before, I never transfer points until right before I'm about to book a ticket). 

A few caveats:
  • Point transfers between Amex and Aeromexico take up to two weeks, and this can bite you in the ass if you're using the points to continue on to a route with lower award availability
  • The 787 flight leaves JFK at 1:40pm and the flight to JFK from Mexico City leaves at 6am. All the other flights on this route are on planes with normal Crappy Domestic First Class recliner seats. 
  • It might make more financial sense to buy a cash ticket in Economy and then do their Optiontown upgrade lottery. Many friends have had great luck with this system, but none of them have tried it on the 787 run (my friends seem to love the 1am redeye on the 737). 


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