Earlier British Airways published a promotion offering up to 40,000 bonus Avios per roundtrip between the US and Europe. While it was only valid for premium and full fare tickets, the mileage bonuses were substantial enough so that it might be worth paying the premium in some cases. The promotion was also valid for travel on American and Iberia, given their transatlantic agreements.
As I expected it looks like American has matched the promotion, offering 20,000 bonus AAdvantage miles per roundtrip to Europe, and an additional 100,000 bonus AAdvantage miles after completing five roundtrips. The promotion is valid for travel through May 31, 2013, and there’s no requirement as to when travel has to be ticketed, so previously booked travel qualifies. Registration is required prior to travel using promotion code EURAA, and only residents of the US, Canada, and Mexico qualify.
Are there cases where this can make sense as a mileage run? I dunno. There are some sub-$1,500 fares in “H” class between New York and London. If you did it five times you’d be earning 40,000 AAdvantage bonus miles per trip, and valuing those at 1.8 cents each, that’s ~$720 worth of miles. You still earn about 7,000 base miles, and if you’re a Platinum or Executive Platinum member you earn an additional 7,000 miles, for a total of 54,000 miles roundtrip (assuming you do five of them).
Even so it’s not an amazing mileage run, and that’s not even factoring in that you have to do five roundtrips to get that kind of value out of it.
But if you’re going to Europe anyway it might make sense to shift some extra business to OneWorld to take advantage of this.