Good news first: We have recently discovered many, many First Class fares between the U.S. and Europe that are now unprecedentedly close to Business Class fares.

These are not anomalies—meaning only available on a few routes or airlines, but instead appear on many routes and many airlines. So peculiarly pervasive are these fares we believe this as an evolution of what we revealed in our December 2012 special report (if you hit reply and say ‘send me a copy’, we will).

So, not an anomaly—a new norm.

Bad news: First Class fares are low enough now that most of the otherwise “distressed seat inventory” will be sold for cash and not “given” to Mileage Redeemers.

A little more bad news: Whereas the First Class bargain fares we have been seeing since 2012 required a 45 to 90-day advance purchase, many of these new special fares require purchase 150 days prior to departure. (But not bad news at all for the leisure traveler who plans that far ahead.)

Back to the good news: These pervasive new First Class fares can be easily bought for just $800 to $1,500 more than Business Class much of the time, instead of the standard many thousands of dollars more.

Hence this early warning. If you have a trip to Europe planned in the next 11 months, (a) think twice about using miles to upgrade from Business Class to First Class, (b) think instead about simply buying a First Class ticket, and (c) buy it at least 150 days ahead.

More good news: New Business Class fares have appeared that seem to often be about 40% less than the previous lowest fares and also require a 150-day advance purchase.

Again, just like the new First Class fares found, these fares are not anomalies. So peculiarly pervasive also are these new Business Class fares we believe this too is an evolution of what we revealed in December 2012.

Stay tuned, having just discovered this development we are still getting our heads around it; here’s what we plan to cover in a special FCF August issue report:

– Why is what we have just discovered actually happening?

– How far-reaching is the impact to premium leisure travelers?

– How do you find the fares?

– How might my ‘Upgrade Mindset’ be affected by the new premium airfare landscape?