Emirates seems to think that this is a good time to devalue its loyalty program, which strikes me as a questionable decision, given what’s going on in the world…
Instead, Skywards is viewed as being more part of the commercial organization, both in terms of how it’s monetized, and also in terms of how it’s intended to encourage loyalty:
- Emirates just doesn’t want to provide big discounts on empty seats by releasing award space, and the idea is almost that redeeming miles gets the airline similar revenue to a cash booking (between the money that Emirates gets when you transfer points to the program, plus all the surcharges)
- The point of Skywards is to offer better “soft” treatment for those who like flying with the beloved brand, rather than actually to “give away” too much
So yeah, personally I’m not at all a fan of the approach. But I also think Skywards leadership is acting intentionally, and it’s not that they think they’re offering great value, and would be shocked to learn that others don’t feel that way (unlike at many other airlines, where that is the case).
Emirates is probably the world’s most revered and known airline brand, and I think that’s largely what the airline leans into heavily. I mean, Emirates has been incredibly profitable, even beating Delta for the past two years (though obviously this year will be different). It remains to be seen if the airline can continue with that approach in the long run.

Bottom line
Emirates Skywards is planning on adjusting award and upgrade costs as of May 20, 2026. This follows endless devaluations over the years, in terms of the number of miles required, the carrier surcharges, and the restrictions on certain redemptions.
A great solo travel tip spotted this week on One Mile at a Time.


