Iberia increases award rates to Spain, but they are still a great deal

Club Iberia Plus has increased the costs of redemptions to and from Spain without warning, but they are still a smart way to redeem Avios. LoyaltyLobby first reported this news.

For many years, Club Iberia Plus (as well as British Airways Club) offered one of the best sweet spots in the points and miles industry, with nonstop lie-flat flights to Spain's Adolfo Suárez Madrid-Barajas Airport (MAD) starting at just 34,000 Avios each way.

Here's what you need to know about the new Iberia award rates.

Related: A review of Iberia's new business-class suite on the A350-900 from Madrid to Mexico City

Iberia increases most award rates

Iberia will continue to utilize an award chart, pricing flights with peak and off-peak dates. The price of all Iberia-operated flights has been adjusted (both short- and long-haul), with the following rates for North American services, each way, per person, plus reasonable fees, taxes and surcharges:

While the cost of Iberia's cheapest Economy Basic rates has reduced slightly, all other awards have increased by around 10-20%, depending on routes, fare classes and dates.

These rates are still attractive even after the increases, particularly if you can travel during off-peak dates. With other programs switching to dynamic pricing and business-class flight redemptions to Europe being priced at 350,000 miles or more, being able to book a lie-flat Iberia flight to Spain for only 40,500 Avios represents great value.

The British Airways Club has increased the redemption cost of flights operated by Iberia in the same way, so you'll pay the same price whether you redeem Avios through Club Iberia Plus or the British Airways Club.

You may find the British Airways website easier to navigate than Iberia's booking platform.

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Related: Is Iberia premium economy worth it on the Airbus A330 from Madrid to Dallas?

How to earn Iberia Avios

Avios are one of the easiest currencies to earn. At least one Avios program partners with all major transferable currencies, and you can transfer Avios between any Avios program at a 1:1 rate.

There are also transfer bonuses to Avios programs from time to time, meaning you may need even fewer credit card points for the rates above.

Related: Iberia makes Orlando the 10th city on its US route map

Bottom line

While no-notice devaluations are an unpleasant reality of redeeming points and miles, this could have been much worse. For so many years, you could fly business class to Europe for as little as 34,000 Avios each way, a testament to the value of the Club Iberia Plus loyalty program.

The new rates, now approximately 10-20% higher, still represent a great way to fly to Spain, especially in business class, given how easy Avios are to redeem.

Related reading:

• 5 versions of Avios: When to use Aer Lingus, British Airways, Finnair, Iberia and Qatar Airways
• Best ways to redeem British Airways Avios: From flights to Hawaii to island hopping in the Caribbean
• InterContinental Madrid review: Best for business, not leisure travelers
• With 5 airline loyalty programs using Avios, here's why I focus on the British Airways Club
• 15 of the most beautiful villages in Spain