You can now redeem Alaska miles on SriLankan — and it's a great deal

How does 50,000 miles for a business-class ticket from London's Heathrow Airport (LHR) to the Maldives sound? Alaska Airlines Mileage Plan has you covered.

As one of the last remaining partner airlines to be added to Alaska's award chart since it joined Oneworld a year ago, Mileage Plan members can now redeem miles on SriLankan Airlines.

With a fleet of only a dozen wide-body aircraft, SriLankan Airlines doesn't fly to North America, but its network throughout Europe and Asia will provide more options for Mileage Plan members interested in visiting destinations like the Maldives, India and, of course, Sri Lanka.

Here's what you need to know about redeeming Alaska miles on SriLankan flights.

Redeeming Alaska miles for SriLankan flights

Each partner airline has its own award rates on Alaska's website. The award chart for SriLankan is surprisingly impressive, especially considering flights on other partners. Here's a look at one-way award pricing:

• Europe to South Asia: 30,000 miles in economy, 50,000 miles in business class.
• The Middle East to South Asia: 17,500 miles in economy, 30,000 miles in business class.
• Southeast Asia to South Asia: 20,000 miles in economy, 40,000 miles in business class.
• Northeast Asia to South Asia: 30,000 miles in economy, 50,000 miles in business class.
• South Asia to South Asia: 17,500 miles in economy, 30,000 miles in business class.

The Alaska Mileage Plan program prohibits mixing partner itineraries, so you cannot book a flight on SriLankan that connects with another Oneworld partner unless it's with Alaska Airlines. Unfortunately, this is not possible as, again, SriLankan doesn't fly to North America.

Fortunately, you can add a stopover in SriLankan's hub at Bandaranaike International Airport (CMB) near the capital city of Colombo on long-haul itineraries between regions.

There are low taxes and fees on these awards, and a free stopover is a nice benefit.

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For example, here is a one-way business-class flight from Velana International Airport (MLE) in Male, Maldives, to Paris-Charles de Gaulle Airport (CDG) with a two-day stopover in Colombo:

These rates are even lower than booking with American Airlines AAdvantage, which has historically been one of the best rewards programs for booking business-class flights between South Asia and Europe.

Related: Cleared for Takeoff: A honeymoon trip to the Maldives on points and miles

Another sweet spot on the Mileage Plan/SriLankan award chart is flights to the Middle East. You can fly from South Asia (India, Sri Lanka, Bangladesh and the Maldives) to the Middle East for just 17,500 miles in economy or 30,000 miles in business class. Similarly, you can take advantage of the "free" stopover in Colombo.

Checking the current cash prices on this flight reveals that you will get 3.15 cents per Alaska mile when booking this trip, which is nearly double our valuation of Alaska miles.

Bottom line

With its recent underwhelming Oneworld partner redemption rates on Royal Air Maroc and Royal Jordanian, we prepared for the worst when Alaska added SriLankan as a redemption partner. To our pleasant surprise, however, these rates are some of the lowest out there for booking award flights from Europe to Asia, including the Maldives.

Do note that, while SriLankan operates a 1-2-1 lie-flat business-class configuration on its Airbus A330s, it's a dated product that really could use some TLC.

The next time you're planning to travel to South Asia, make sure to check out using Alaska miles on SriLankan. And if you have the time, take advantage of the "free" stopover in Colombo.