Through May 31, 2012, American Airlines is offering a 30% bonus on miles purchased in their AAdvantage program. In order to receive the bonus one must purchase at least 20,000 points in a single transaction (netting 26K with the bonus). With the bonus applied the price comes in around 2.12 cents/mile. Definitely not the best deal out there, but also not horrible.
Additional fine print:
Terms and Conditions: Transactions are nonrefundable and nonreversible. Please allow 72 hours for purchased AAdvantage® miles to post to the designated AAdvantage account. AAdvantage bonus miles will be posted 6-8 weeks following the transaction date. AAdvantage members must purchase 20,000 AAdvantage miles or more in a single transaction from the buyAAmiles® program or giftAAmilesSM program beginning 12:00 am CDT April 2, 2012, to 11:59 pm CDT May 31, 2012, to be eligible for the 30% AAdvantage bonus mile offer. The AAdvantage bonus miles will be posted to the purchasers’ AAdvantage account. buyAAmiles and giftAAmiles transactions are limited to a combined maximum of 40,000 AAdvantage miles per account, per calendar year. AAdvantage bonus miles earned do not count toward the 40,000 buyAAmiles and giftAAmiles annual limit. AAdvantage miles purchased or earned through this promotion do not count toward elite-status qualification or Million MilerSM status.