Skip to content

Iberia reverts to pre-devaluation prices for off-peak awards from Chicago, Los Angeles

July 08, 2021
6 min read
Iberia Airbus A350 Business JFK-INV
Iberia reverts to pre-devaluation prices for off-peak awards from Chicago, Los Angeles
This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. Terms apply to the offers listed on this page. For an explanation of our Advertising Policy, visit this page.

This May, we reported that Iberia Plus corrected prices for flights from Chicago-O'Hare (ORD) and Los Angeles (LAX) to Madrid (MAD). Iberia was previously pricing awards one category below its distance-based award chart.

Now, it looks like Iberia backtracked on its decision and again lowered prices to pre-correction rates.

Iberia off-peak awards from Chicago to Madrid again cost 34,000 Iberia Avios one-way in business class, down from 42,500 Avios. Likewise, awards from Los Angeles to Madrid cost 42,500 Avios in business class instead of 51,000 Avios.

Economy and premium economy awards were lowered to historical prices. Chicago to Madrid can now be booked for as low as 17,000 Avios in economy and 25,500 Avios in premium economy on off-peak dates, compared to 21,250 Avios and 31,750 Avios, respectively. Further, Los Angeles to Madrid prices at 21,250 Avios and 31,750 Avios in economy and premium economy, respectively, as opposed to 25,500 Avios and 38,250 Avios.

Let's take a closer look at these changes.

For more TPG news delivered each morning to your inbox, sign up for our daily newsletter.

Iberia lowers off-peak award prices for some cities

(Photo by Christian Kramer/The Points Guy)

As discussed, Iberia historically priced off-peak awards from Chicago and Los Angeles to Madrid lower than its published award chart. For reference, here's a look at Iberia's distance-based award chart for off-peak awards:

Distance (miles)Off-peak economyPeak economyOff-peak premium economyPeak premium economyOff-peak business classPeak business class
0 - 6504,5005,000--9,00010,000
651 - 1,1507,5008,250--15,00016,500
1,151 - 2,00010,00011,000--20,00022,000
2,001 - 3,00011,00012,500--21,25031,250
3,001 - 4,00017,00020,00025,50035,00034,00050,000
4,001 - 5,50021,25025,00031,75043,75042,50062,500
5,501 - 6,50025,50030,00038,25052,50051,00075,000
6,501 - 7,00029,75035,00044,25061,25059,50087,500

Now, flights are pricing out at the pre-devaluation rate. Here's an example of an off-peak flight from Chicago to Madrid this December. The flight is 4,202 miles long annd should theoretically still cost 42,500 Avios per Iberia's award chart. However, it's pricing out at 34,000 Avios.

(Screenshot courtesy of

Likewise, here's an example of a flight from Los Angeles to Madrid pricing at 42,500 Avios one-way in Feb 2022. This flight is 5,845 miles long, so it should cost 51,000 Avios per Iberia's award chart.

Sign up for our daily newsletter
(Screenshot courtesy of

The airline also corrected the price of flights from Mexico City (MEX) and other cities in Central and South America this May. These are also back to their pre-correction prices. Madrid to Mexico City shot up to 51,000 Avios in May but has since reverted to 42,500 Avios.

(Screenshot courtesy of

This change is no mistake either. Iberia's award "band" definition states that flights to/from Chicago, Los Angeles and Mexico City to/from Madrid are again in bands 5 and 6, respectively.

(Screenshot courtesy of

TPG has confirmed this pricing change across multiple off-peak dates. Awards previously pricing higher are once again at their old rates for the rest of 2021 and 2022.

Related: The cheapest ways to book a trip to Spain with points and miles

Bottom line

It's great to see Iberia backtrack on its decision to raise the cost of off-peak prices from Madrid to Chicago, Los Angeles and others. This change reopens a massive sweet spot for American Express Membership Rewards and Chase Ultimate Rewards points. We're hopeful that these prices stick and are not corrected again in the future.

Feature photo by Christian Kramer/The Points Guy

Featured image by (Photo by Christian Kramer/The Points Guy)
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.