Through March 23, 2014, British Airways is offering a 25% bonus on the purchase of Executive Club Avios:
Your allowance has risen this year from 24,000 to 27,000 Avios, so if you want to enjoy your rewards sooner, now you can. Even if you purchase between 5,000 and 26,000 Avios, we’ll still give you a 15% Avios bonus.
Why not top up now and enjoy the break you’ve been dreaming of that much sooner?
If you max out the promotion you can purchase a total of 33,750 Avios for $768, which is a total of 2.27 cents per Avios.
That’s definitely not a rate at which I’d speculatively stock up on Avios, though they can be incredibly valuable under certain circumstances. For example, British Airways charges just 4,500 Avios for a one-way flight of less than 650 miles. At 2.27 cents per Avios, that’s roughly ~$100 for 4,500 Avios. That’s a pretty darn good deal given how expensive shorthaul tickets can often be
That being said, there are much more economical ways to accrue British Airways Avios. British Airways partners with American Express Membership Rewards, Chase Ultimate Rewards, and Starwood Preferred Guest. The transfer ratios from all programs are 1:1. There are frequent transfer bonuses from American Express Membership Rewards to British Airways, typically of 20-50%. With Starwood you also get a 5,000 point bonus for every 20,000 points transferred, meaning you’re basically earning 1.25 Avios per Starwood point.
So given that American Express will sell you Membership Rewards points for 2.5 cents each, you’d be better off buying them directly from American Express and then transfer them when they’re offering a bonus.
But not everyone has access to US credit card offers, so for many I suspect this is a good value.