I am re-publishing this post as a reminder that as of October 1, 2016, Delta Skymiles prices for Business Class awards between North American and Australia, Asia, Africa, and South America are becoming more expensive. Economy awards between the United States and South Africa, the Southwest Pacific, and the Middle East are getting cheaper however. 

If you have been saving your Skymiles for a Business Class award to any of those areas, consider booking so your trip is completed before October 1.

Southwest has mildly devalued its Rapid Rewards points by about 3%. What's alarming isn't the size of the devaluation, it's that:

Southwest gave no notice, only some sleuthing by FlyerTalkers sussed it out
This is the third devaluation in third years, something which is completely unnecessary for a revenue-based program like Southwest

The Devaluations
Southwest points used to be redeemable for any "Wanna Get Away?" fare at a rate of 60 points per dollar of the fare.

Yesterday, Alaska Airlines doubled the price of flying Emirates First Class awards with no notice whatsoever. Here was my take:
Devaluations stink.
Major devaluations stink more. (Please do it the Aeroplan way of small yearly devaluations with a few months notice instead.)
No-notice major devaluation stink the most.
They are plainly unethical. For weeks Alaska has been selling its miles with a bonus to entice you to buy.

Alaska Airlines has massively devalued its award charts to fly Emirates with zero notice.

Starting tomorrow, March 22 (I don't have any information on the exact minute), American Airlines' award prices, off peak dates, and definitions of regions change.

Today you can book travel through February 15, 2017 to take advantage of the current award chart, which is much cheaper to most regions in Business and First Class.

With the big American Airlines devaluation kicking in on Monday (March 22,) I am highlighting all the good award space I see, like this award space to Argentina, Brazil, and Chile in 2016.

Today that is Business Class award space to London in December.
Why This Matters
Ideally you’d book award space to Europe now to save some miles.

Current award prices:

20,000 AA miles one way in economy from October 15 to May 15
30,000 AA in economy from May 16 to October 14
50,000 in Business
62,500 in First

Award prices for bookings made

American Airlines devalues its award chart on Tuesday. Book by Monday to lock in current award prices for travel through February 2017.

While I noticed the changes to award prices, including off peak awards, I didn't notice that several places are changing regions on the award chart also.

Here are the five changes:
1 and 2. Bolivia and Manaus, Brazil to South America 1
This is great news! Bolivia and Manaus, Brazil are changing from the more expensive (Southern) South America 2 to the cheaper (Northern) South America 1.

Emilio commented:
With this devaluation coming in [one week], do you recommend booking some flights speculatively and then change later for a date that works better? South America and Australia sound nice, but making everything work is difficult. So, how hard would you say is it to change dates, particularly for next year?
Thanks!
I have written before about how to lock in pre-devaluation prices for trips with uncertain dates in 2016 or early 2017, so I won't rehash that here.

With the big American Airlines devaluation kicking in on March 22, I wanted to check the current picture of premium cabin and off peak award space to Argentina, Brazil, and Chile.

Delta has devalued its miles with no notice (again.)

Effective immediately, awards for travel from November 1, 2016 on are going up in price from the United States to the Middle East in Business Class.
USA to Middle East
Bahrain, Egypt, Iran, Iraq, Israel, Jordan, Kazakhstan, Kuwait, Kyrgyzstan, Lebanon, Oman, Qatar, Saudi Arabia, Syria, United Arab Emirates, Uzbekistan, Yemen

Is: 40k/70k each way in economy/Business
For Travel October 1 to October 31: 35k/70k
For Travel November 1 on: 35k/85k
Change: 5,000 fewer Delta miles each way in economy to the Middle East starting October 1, 15,000 more miles