What are Qantas Frequent Flyer points worth?

At Frequent Miler, we keep a database of point valuations called “Reasonable Redemption Values.” These are estimates of the “worth” of airline miles, hotel points, transferable points, and more. The idea is that we try to identify the point at which it is “reasonable” to get that much value or more from your points.

This information is critical for making informed decisions. In fact, it’s a key component of the First Year Value information shown on our Best Credit Card Offers page, and it’s similarly used to show which cards offer the best value for everyday spend and which offer the best category bonuses.

When we first started looking at the value of airline miles, we used a laborious manual process to create estimates, but we now have a much better way of pinning down their value.

Points Path, which is a Google Flights extension, keeps records of both the point prices and cash prices of all searches done via its platform. Points Path founder and former Frequent Miler writer, Julian Kheel, has made this data available to us for the purpose of identifying rewards program point values.

Thanks to Julian and Points Path, we now have access to the results of over 30,000 domestic US and international Qantas search results that show both the cash and award prices for the same flight (including partner flights). Using this data, we can provide a far better estimate of the “Reasonable Redemption Values” than we were ever able to obtain by using manual calculations.

Based on an analysis of Points Path’s data, we’ve concluded that the new Reasonable Redemption Value (RRV) for Qantas Frequent Flyer points = 1.3 Cents Per Point.

Points Path Data

Listed below is a summary of the raw data from Points Path. There are two values that are important to us. The median is the point that half of the observed results offered better point value and half offered worse value. We also have the average value of all the searches, in total and by booking class.

Domestic (US)

International

Combined

Calculations

For our airline RRV values, we’re going to use the midpoints between the average value and the median. The reason is that the difference between the two is an indicator of how often more valuable sweet spots can be found in a given category.

If the median is 1 cent per point, that means that half of all searches produced a value of less than 1 cent per point, and the other half above 1 cent per point. However, if the same data showed an average of 2 cents per point it would mean that some of the 50% of searches that were above 1 cent per point were so far above that they doubled the result to 2 cents per point. Likely, that would indicate a higher prevalence of available sweet spot awards with outsized redemption value…something we like to see.

Here’s what we found with Qantas:

• Points Path Median Observed Value for Qantas Frequent Flyer redemptions: 1.09 cents per point based on the past 365 days of data as of February 26, 2025)
• Points Path Mean Observed Value for Qantas Frequent Flyer redemptions: 1.54 Cents Per point (based on the past 365 days of data as of February 26, 2025)
• Range: 1.09 to 1.54.
• For our RRV, we’ll pick the middle point between 1.09 and 1.54 and then round it to one decimal, or 1.3 Cents Per Point.

Note that, for Qantas, the average value is ~41% higher than the median. That indicates that, even though only half of the searches Points Path tracked showed redemptions above 1.09 cents per point, enough of those searches produced such outsized value that it raised the average redemption number significantly, all the way to 1.54 cents per point. To us, this means that there’s significant opportunity for excellent value to be had when using Qantas points. This is especially prevalent for international business class redemptions.

Conclusion

The exercise described above resulted in an unchanged Reasonable Redemption Value (RRV) for Qantas points of 1.3 cents each. That’s the point at which most readers are likely to get that much value or more.

Please keep in mind that this does not mean that you will always get 1.3 cents per point value. In practice, you’ll sometimes find better redemptions and sometimes you’ll find worse. However, we believe that 1.3 cents is a “reasonable” expectation for what your Qantas points are “worth” when used towards award flights.

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