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.
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).