The bonus in one line

Through 11:59 p.m. Mountain Time on October 31, 2026, every 1,000 American Express Membership Rewards points you move to Aeromexico Rewards lands as 1,920 Aeromexico points instead of the usual 1,600. The bonus is baked into the transfer ratio, there is a 1,000-point minimum per transfer, and transfers are one-way and irreversible — the standard rules apply.

That 1:1.92 figure is what makes this offer worth a closer look than most transfer bonuses. Most Amex airline partners transfer at 1:1, so a 25% bonus there gets you 1,250 miles per 1,000 points. Aeromexico starts at 1.6 and, with this bonus, gets you 1,920. On paper, your Membership Rewards points stretch more than 50% further here than they do through a 1:1 partner with a comparable bonus. The catch, as always with Aeromexico, is what you can actually book with those points.

Why Aeromexico's pricing is two programs in one

Aeromexico Rewards prices awards two ways, and the difference decides whether this bonus is a steal or a trap. Classic awards follow a published regional chart with fixed low-season and high-season prices, but availability is limited. Dynamic awards are available far more often and priced by demand — sometimes modestly above the Classic price, sometimes dramatically above it.

Every calculation in this post uses Classic pricing, because that is where the value lives. If the only price you can find for your dates is a dynamic one, run the math again on that actual number before transferring a single point. A dynamic award that costs twice the Classic price wipes out the entire transfer bonus and then some. Search first, transfer second, and transfer only the exact number of points the award you found requires.

The Mexico sweet spot: under 10,000 points, one-way

Start with the route where Aeromexico is hardest to beat. A one-way Classic economy award from Mexico to most U.S. cities costs 18,000 Aeromexico points in low season. At the bonused 1:1.92 ratio, that is 9,375 Membership Rewards points. Without the bonus, the same seat would cost 11,250 points. You save 1,875 points per one-way ticket — effectively a free domestic connection's worth of value on a round trip for two.

Business class on the same routes is where the bonus really shows. A one-way Classic business award from Mexico to most U.S. cities is 36,000 Aeromexico points in low season, which becomes 18,750 Membership Rewards points with the bonus, versus 22,500 without it. A lie-flat or recliner business seat between the U.S. and Mexico for under 19,000 flexible points is a price that few other programs touch, and it is the single best use of this bonus for most travelers.

The geography matters. The 18,000/36,000-point tier covers most U.S. cities, but New York, Seattle, Chicago, and Canada sit in a pricier North America 2 band: 30,000 points in economy and 52,000 in business, low season. At the bonused ratio, that is 15,625 points in economy and 27,083 in business — still reasonable, but check which band your city falls in before you do the math. Domestic flights within Mexico are cheaper still at 10,000 points in economy, or just 5,209 Membership Rewards points with the bonus, which makes positioning flights inside Mexico nearly free in points terms.

The long-haul play: Europe for 78,125 points in business

The headline long-haul redemption is Mexico City to Europe. A one-way Classic business award costs 150,000 Aeromexico points in low season — 78,125 Membership Rewards points with the bonus, versus 93,750 without it. That is a lie-flat seat on an eleven-hour crossing for roughly what some programs charge for a one-way business award to Europe from the U.S. East Coast, and it comes with a built-in excuse to spend a night in Mexico City on the way.

Economy to Europe is 75,000 Aeromexico points in low season, or 39,063 Membership Rewards points with the bonus. That is not a jaw-dropping price on its own, but it becomes interesting when cash fares to Europe are high or when you are already routing through Mexico. The same logic extends to Asia: business class from Mexico to Northeast Asia is 230,000 Aeromexico points in low season, which translates to about 119,792 Membership Rewards points with the bonus — just under 120,000 for a lie-flat seat to Tokyo. Without the bonus, that same seat would cost nearly 144,000 points.

Hawaii sits in between. A one-way Classic economy award is 34,000 Aeromexico points in low season, or 17,708 Membership Rewards points with the bonus, and business is 76,000 points, or 39,583 Membership Rewards points. These are not the cheapest Hawaii awards in the game, but they are competitive if you are already holding Membership Rewards points and want an alternative to the usual programs.

What this bonus does not fix

A transfer bonus cannot fix a program's rough edges, and Aeromexico has several. First, award pricing is only half the cost: Aeromexico passes carrier-imposed surcharges through on awards, so always price the full out-of-pocket taxes and fees alongside the points before deciding a redemption is a deal. A cheap points price with heavy surcharges can lose to a slightly pricier award with low fees.

Second, flexibility is limited. Changes and cancellations on Aeromexico awards carry fees, so do not transfer speculatively and hope a better date opens up later. Book the trip you have actually found, and treat transferred points as spent. If your plans are uncertain, the flexibility of keeping points in Membership Rewards is worth more than a 20% bonus.

Third, partner awards are a project. Aeromexico points can book SkyTeam partner flights, including Delta, but partner awards frequently cannot be booked online — expect to find availability on the partner's site first and then call Aeromexico to ticket it. If your plan depends on a Delta flight inside the U.S., this is the wrong vehicle: use a program with straightforward Delta pricing instead. The Aeromexico bonus pays off on Aeromexico-operated flights, not as a back door into domestic Delta awards.

Finally, the booking experience itself has a known quirk: the points-booking option can disappear when the site is set to the U.S. and English. If you cannot find award pricing, switch to the Mexico site and search in Spanish before concluding that no awards exist. It is an annoying extra step, and it is the difference between finding Classic availability and missing it entirely.

How to execute: the sequence that protects you

Do this in order. First, search your exact route and dates on Aeromexico's site and confirm a Classic award at the chart price — screenshot or note the points price, cabin, and flight numbers. Second, compare that award against paying cash and against at least one alternative program for the same trip, including taxes and fees on both sides. Third, transfer only the points you need. Because transfers can take up to 48 hours, do not wait until October 31: finish your search and start the transfer by October 29 so a slow transfer cannot strand you on the wrong side of the deadline. Fourth, ticket immediately once the points land, because award availability can vanish while you deliberate.

One more comparison before you commit: Capital One miles also transfer to Aeromexico, but only at 1:1. During this bonus, 1,000 Membership Rewards points buy nearly twice as many Aeromexico points as 1,000 Capital One miles. If you hold both currencies, Amex is the obvious one to move — and if you hold only Capital One miles, this bonus is not a reason to open an Amex card for it.

The verdict

This is not a transfer-everything bonus. It is a targeted one. If you have a specific Aeromexico-operated trip in mind — a beach trip to Mexico, a business-class crossing to Madrid, a long-haul to Tokyo routed through Mexico City — and you can find Classic availability, the 1:1.92 ratio makes Membership Rewards points go further here than through almost any 1:1 partner. The savings are concrete: 1,875 points saved on every U.S.–Mexico economy ticket, 3,750 on every business ticket, more than 15,000 on a business seat to Europe.

If you do not have that trip, skip it. Transferred points cannot come back, dynamic pricing can erase the bonus, and Membership Rewards points held in reserve keep every other option open — including the next bonus, which may land on a program you will actually use. The bonus ends October 31. The discipline of searching before transferring does not expire.

💡 Why This Matters for Your Strategy

News in the points-and-miles world moves fast, and promotional changes often have a short window. If this announcement affects a card or program you hold, log into your awardtrail dashboard to check your current benefit usage, bonus progress, and whether a transfer or redemption makes sense right now — before terms change.

As a general rule: transfer points only when you have a specific redemption in mind — transfers are almost always one-way and non-reversible. If you're unsure of the value, check our redemption guides before acting.

View Redemption Guides · Read Our In-Depth Analysis

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