United is offering a 20% discount on roundtrip coach saver awards between North American and Europe for travel on United between January 15 and March 13, 2013. The offer is only valid for bookings made between November 6 and November 15, 2012, and the discount should automatically appear when searching for availability.
United ordinarily charges 60,000 miles for a roundtrip coach saver award, so through this promotion the cost is lowered to 48,000 miles.
The discount is nice if you were planning on redeeming miles for such an award anyway, but it’s not something I’d jump on just to take advantage of the deal. Travel is limited to United metal, which is pretty restrictive since it means you can’t add a stopover within Europe since that would require flying one of their partner airlines.
US Airways still offers the best off peak awards to Europe, as they charge just 35,000 miles roundtrip in coach or 60,000 miles roundtrip in business class. If you have their co-branded credit card you get a further 5,000 mile bonus. The big restrictions are the date limits (January 15 through February 28) and that you’re also limited to US Airways metal.