Even in the dead of winter, Icelandair is warming the cockles of Club Rewards members who are looking for a cheap way to get to Europe this spring or summer.

Through May 31, Club Rewards members who would like to travel from Baltimore/Washington, New York/JFK or Boston to any of Icelandair’s European gateway cities can do so for as little as $100 and 80,000 Club Rewards points.

To take advantage of this offer, members must convert their Club Rewards points to Icelandair miles. The points will transfer at the usual 2:1 rate, and once converted, the miles and the cash will pay for the ticket. So, in effect, a ticket from the U.S. to Europe can be redeemed for 40,000 Icelandair Frequent Flyer miles and $100 through this promotion. This same award on Icelandair would typically cost 60,000 miles, which means Club Rewards members are essentially being allowed to “buy” 20,000 miles at a cost of $100 — this calculates to an outstanding rate of just a half cent per mile.

Members who don’t have 80,000 Club Rewards points, or who prefer to convert fewer points, have options as well. The same tickets can be had for a conversion of 40,000 Club Rewards points (20,000 Icelandair miles) and $200, or 60,000 Club Rewards points (30,000 Icelandair miles) and $150. If traveling out of Minneapolis/St. Paul or Orlando, the same conversion rates apply; however, the costs increase to $150 (80,000), $200 (60,000) and $250 (40,000).

On June 1 the dollar amounts will all increase. For example, a conversion of 40,000 Club Reward points to 20,000 Icelandair points will require an additional $500 if you’re leaving from the East Coast, and $600 if departing from Minneapolis or Orlando.

To learn more about this promotions or to enroll in Icelandair Awards, call (800) 223-550 or visit http://www.icelandair.com. Once enrolled, call (800) 223-5500 and mention this offer to convert points to miles.