You have to wonder what is going through the minds of the decision makers at Delta Air Lines when they announce a devaluation of their Skymiles award chart effecting all travel on or after 01 June 2014 then decide that was not enough and today implement an interim devaluation effective for travel on or after 01 February 2014, now less than three months away. 

Here’s the “logic” from Delta–

This afternoon, you’ll be able to see some updates to our Award Ticket charts on delta.com. To balance continued investments in products and services, we regularly evaluate Award pricing and adjust it periodically. Select redemption levels are changing for Award Tickets booked on or after November 8, 2013, for travel on or after February 1, 2014. You can continue to book Award Tickets for travel before February 1, 2014, at the current Award redemption levels. 

Please review delta.com/charts for existing and updated mileage redemption charts by region and additional information.

Unlike United’s announcement last week that radically devalued its award chart, the changes Delta announced today are relatively minor. But they are more dishonest than United’s changes for two reasons. First, the new chart takes effect immediately for all travel occurring on or after 01 February 2014. Again, Delta has shamefully failed to give advance notice before changing its award chart. Second, Delta’s clear implication in announcing its revised award chart for travel after 01 June 2014 was that there would be no interim changes to the chart. This is nothing short of a bait and switch. 

I have placed all three award charts below (departing from the U.S.), highlighting today’s changes in gold–

1. For Travel Prior to February 01, 2014

2. For Travel Between February 01, 2014 and May 31, 2014

3. For Travel On or After June 01, 2014

Though the changes are arguably minor, Delta has once again shown that is cannot be trusted. And more importantly, we are once again reminded that miles are a depreciating asset and that it is in your interest to burn them as soon as possible: miles are a worse investment than airline stock.