Lifemiles is bringing back the Transfer Double Miles promotion from last year. The way to play this – is to have 2 accounts (which you hopefully have set up before the promotion started). You then transfer as many miles as possible in your account to minimize fees.
1,000 miles will cost you $15 to transfer. But they double at the recipient. So you effectively pay 1.5 cents per mile.
In the next step you transfer 2,000 miles and then 4,000 and so on until you have the quantity you like. 50,000 is the maximum you are allowed to transfer.
Given Avianca's Star Alliance award chart which is free of fuel surcharges you'd be paying for example 110,000 miles in business class to Europe. That comes to $1,650 (airport taxes and fees) for a Business Class ticket to Europe. That's a good price.
Avianca places strong restrictions on award tickets so you may see less availability than what you'll see somewhere else but it's still a good deal.
I have some Avianca miles left from the last promotion but I bought my share last year and I was happy with it.