Air France/KLM's Flying Blue devalues reward tickets from 8 September with "Light" fares at today's prices

We need to have a talk about devaluations, because that's what Air France/KLM are doing with their Flying Blue programme. But the way they're devaluing their programme may not be the way you expect. Three ways a programme can devalue your redemptiom I'd argue that a loyalty programme can take value off you in three ways. It can put up the number of points needed, like BA did in December 2025. It…