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El Al Matmid Value 01/27/2020

El Al Matmid Club Value – Light

Updated January 27th, 2020

This is only a “light” valuation. I do this type of analysis on carriers with programs that are especially low in value. This month, I’m assigning an ACRV of 8.5¢ per El Al Matmid point. At first glance, this seems extremely high. But let’s not forget, American Express Membership Rewards transfer at a rate of 50:1

el al award booking portal

All Award Flights Begin or End in Tel Aviv

This makes comparing El Al’s availability to our hypothetical basket of currencies really tough.

So How Did we Arrive at 8.5¢

Matmid Points are like the Bitcoin of frequent flyer miles. They’re worth a lot, but you also don’t earn them very easily. American Express Membership Rewards transfer at a rate of 50:1. So, one should divide the above figure by 50 to view them on the same scale as most other award miles. In order to value them, we went quick and dirty. As illustrated in the table below, we simply took a small sampling of available award seats, found the lowest cost cash alternative and did the math. It’s the basic process that we’d use to value any other currency, just on a much smaller scale.

Route Class Date Points Fees Low Cost Cash Redemption Value
BOS -> TLV Econ 02/20/2020 4,446 $328 $579  5.65¢
BOS -> TLV Business 02/20/2020 12,558 $446 $2,441  15.89¢
JFK -> TLV Econ 02/20/2020 4,536 $328 $499  3.77¢
JFK -> TLV Premium 02/20/2020 5,076 $446 $726  5.52¢
JFK -> TLV Business 02/20/2020 13,254 $446 $1,792  10.16¢
LAX -> TLV Premium 02/20/2020 6,834 $446 2,295  27.06¢
Average  11.34¢
Reduction Factor 25%
El Al Matmid Point Value  8.50¢

To put the results in some context that makes them more comparable to other award miles, lets divide the point value by 50(the Amex transfer ratio)…this provides us with a “normalized value” of 0.17¢, just terrible.

Ultimately, we view El Al’s Matmid program as a low tier transfer option. Unless one is planing to fly from a US gateway to Tel Aviv, and is willing to be very flexible with their travel dates, look elsewhere.

Compared to It’s Geographical Peers

[wpdatatable id=19 table_view=regular]

For more information about how we value airline/hotel and other award currencies, please visit our valuation method and changelog pages.