It’s worth noting that the Alaska and Icelandair relationship will end on May 31 for a couple of reasons. First of all, you still have a few days to redeem Alaska miles on Icelandair, so if you’ve been eying a redemption on them, now would be a great time to do so. As a reminder, their award chart looks as follows:
But in my opinion the more lucrative aspect of this partnership is that you can earn Alaska miles for revenue flights on Icelandair. Even though the partnership ends on May 31, 2013, as long as you book a flight by that date you can still accrue miles, even if it’s for travel in the future. As a matter of fact you can earn Alaska miles for travel on Icelandair through February 28, 2014. But you have to book by Friday.