First class for pesos

By Barney Gimbel, Fortune writer

(Fortune Magazine) -- The peso isn't the only undervalued Mexican currency. Mexicana Airlines' Frecuenta mileage program can help you travel the world in business or first class for a fraction of the normal price.

You don't even have to set foot on a Mexicana plane, according to Matthew Bennett of Firstclassflyer.com. That's because you can buy frequent-flier miles from Mexicana for a bargain 1.6 cents each (on other carriers it's more than 2.5 cents) and use them to fly airlines like American, Air Canada, Air New Zealand, Singapore, and Lufthansa.

Here's how it works. Say you want to fly from Los Angeles to Tokyo first class on Singapore Air. By buying 120,000 miles at 1.6 cents, you'd spend only $1,920, vs. $12,565 for a typical fare. There's no limit to how many miles you can buy, but it can be difficult to find frequent-flier seats, so check availability first.  Top of page

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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.