Iberia is running a promotion where they are offering a 25% discount on their award flights to Madrid. This can ultimately result in flying for just 25,500 points roundtrip. Similar to British Airways Avios, Iberia Avios always uses a distance based award calculator when determining the number of points required for a certain route. If you are located on the East Coast, this is your best option when flying to Spain as you’ll spend about half the number of miles then using your American Airline miles. Now, on top of the already less expensive award flight, they are discounting it another 25%! This is the exact same promotion they ran a year ago (for those who remember it). 
This offer is only for flights between New York, Boston, and Chicago to Madrid. You must book by March 27, 2019 for travel between September 1 and December 14, 2019. Since flights typically only cost 17,000 points one-way, after the 25% discount, you’ll only be paying 12,750 one-way, or 25,500 points roundtrip. Now, if you’d prefer to fly in business class, you’ll pay twice the number of miles, but it is still a great deal — only 25,500 points one-way, or 51,000 points roundtrip.
Right now, the business class deal might actually be the “better” offer, since flights to Madrid are actually pricing out incredibly low for economy seats. From Boston, I am seeing fares as low as $341 roundtrip (in economy), so using your points when the price is this low is definitely not a good usage of your points.
Need Iberia Avios Points?
The average person probably does not have any Iberia Avios points in their account. And most likely probably doesn’t even have an Iberia Avios account! The good news is that you can transfer points from your Chase Ultimate Rewards account at a 1:1 ratio. This is a great usage of your Ultimate Reward points! Or, you can transfer points from your British Airways Avios accounts to your Iberia Avios account also at a 1:1 ratio, but there is one huge caveat — both accounts must be open and have activity in the past 90 days.
Overall…
If you are looking to head to Madrid, or really hop over to somewhere else in Spain this Fall, this is an awesome promotion! Availability is really good and additional fees are relatively low.
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