I have a formula that i am trying to figure out

If a member is a Frequent Flier then the cheapest air fare applies if not
the cheapest normal fare applies How do i write this into a formula
my answer was
IF (Status="Y",Frequent_Flier,Normal) but was told that this didn't allow
for the data to change or a new airline to join
I really need some help cause it's driving me mad!

Thanking you
Lisa

Does "Y" mean frequent flyer, if so here's is what I think,
I assume there are two different prices, lets put them in A1 for the
normal fare and A2 for the cheapest fare
in cell B2 enter:
=IF(B1="Y",A2,A1)
Enter Y in B1 and see what happens