This means that if you transfer 1,000 points, you will get 1,400 miles. Not too shabby!
This is pretty awesome timing for me since I just used my last Avios miles on a vacation and I also just signed up for an American Express Business Gold card with an 75,000 sign up bonus that can turn into 119,000 Avios miles. That's a pretty hefty replenishment.
Keep in mind that the sweet spot for British Airways flights are short distance Domestic flights since their award chart is distance based, but if you use the bonus correctly and you follow this post from Dans Deals you may be able to fly from New York to Tel Aviv roundtrip with slightly less than 43,000 Membership Reward points via Air Berlin.