Iberia is running a heck of an award sale for bookings made through January 7, 2014, for travel through April 8, 2014. They’re offering 50% off redemptions on Iberia metal, which is potentially extremely lucrative since Iberia only imposes very mild fuel surcharges on award redemptions.
If you’re an Iberia Plus member just log-in and search for award redemptions and you’ll automatically see the discounted prices. Through this promotion one-way economy class between Boston, Chicago, Miami, or New York and Madrid will cost you just 10,000 Avios, while one-way business class will cost you just 20,000 Avios. A one-way from Los Angeles to Madrid will cost you just 12,500 Avios in economy class or 25,000 Avios in business class.
For example, pulling up award availability for a one-way business class redemption from Chicago to Madrid, the total cost comes to just 20,000 Avios plus ~78 Euros.
You can search award availability on Iberia’s website if you’re an Iberia Plus member, though you can only search one day at a time. Alternatively if you have an ExpertFlyer membership you can see business class award availability for a week at a time.
At least up until last week Iberia was transfer partners with the US American Express Membership Rewards program, though I can’t seem to find it on the Membership Rewards website right now. I’m not sure if they were cut as a partner or if there are just some technical difficulties, and there seems to be some confusion at American Express as well, which I’ll try to get to the bottom of. Alternatively, you can actually transfer points from British Airways Avios, though the big catch is that your Iberia Plus account has to be at least three months old to qualify for that.
Lastly, if you do take advantage of this and book business class, I’d highly recommend booking for travel on an Airbus A330, as these feature Iberia’s new business class product, featured in this video:
Anyway, this is an absolutely phenomenal value and I’d highly recommend taking advantage of this if you have the time. Iberia’s award space tends to be pretty hit or miss, whereby they either seem to have no award seats or nine award seats on a given flight, so with a bit of flexibility it shouldn’t be too tough to book an award under this promotion.
(Tip of the hat to @olman)