Given the current tendency of program devaluations, we had to fear the worst when ANA announced an adjustment of award levels in its ANA Mileage Club as of April 18 both for ANA and partner airlines flights, after not having touched the award levels for many years. After all, the program is one of the more rewarding ones in Star Alliance. But things turned out to be not so catastrophic. Most changes apply to long-haul flights in Business and First Class only, but most remain at reasonable levels. The strongest hit of 50% concerns flights between Europe and the Middle East or Africa. And the best value of the program is definitely still with Economy Class flights to Oceania, running, for example, at only 75,000 and 80,000 miles roundtrip from North America and Europe respectively.