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Iberia is a oneworld airline based in Spain with an underrated fully flat business class product. They’re owned by IAG, the same airline that owns British Airways, and they’re a oneworld partner of American Airlines.
The great thing about Iberia is that when you use Iberia Avios to redeem for Iberia flights they charge fewer miles than British Airways or American does and they do not add usurious fuel surcharges. What’s more they occasionally discount their already reasonable award prices.
For a long time I would suggest that you open an Iberia account even if you didn’t plan to use one. That’s because once an Iberia account has been open for 90 days and has earned at least one mile (there are sometimes opportunities to earn a few miles for free) you can move British Airways Avios over to Iberia and make them move valuable.
Now, however, not only does American Express Membership Rewards transfer directly to Iberia but so does Chase Ultimate Rewards. So your Chase Sapphire Preferred Card and Ink Business Preferred Credit Card transfer right to Iberia.
- Boston and Chicago – Madrid are 51,000 points roundtrip in business class (or 25,500 points roundtrip in economy)
- Full taxes and fees will run ~ $215 roundtrip for a business class roundtrip
- Using “miles and money” an economy roundtrip can be as low as $418 and 6400 points roundtrip though of course we sometimes see transatlantic flights around $400 and those earn miles.
Book by January 31 for travel between February 1 and May 15 (excluding March 24-31). Availability is an issue so make sure the flights you want are available before transferring points.
They offered a similar deal back in the spring and have done so several times in the past, so this may not be the last time we see it.
By the way another option to cross the Atlantic for under 100,000 Iberia Avios, regularly very available, is to redeem for Royal Air Maroc flights to Casablanca.