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A promotion we’ve written about multiple times in the past has returned yet again: the Spanish Groupon website is selling packages of Iberia Avios. Thanks to a beneficial exchange rate and elevated portal bonuses, you can score Iberia Avios for as little as 1.37 US cents each.

The Groupon DealThe cost per Avios varies based on which package you get, but — before potential shopping bonuses — you can purchase Avios for as little as 1.37 US cents each:

  • 1,000 Avios for 19 euros (~$21, 2.12 cents each)
  • 2,000 Avios for 29 euros (~$32, 1.62 cents each)
  • 4,000 Avios for 59 euros (~$66, 1.65 cents each)
  • 8,000 Avios for 109 euros (~$122, 1.52 cents each)
  • 15,000 Avios for 199 euros (~$222, 1.48 cents each)
  • 20,000 Avios for 259 euros (~$289, 1.45 cents each)
  • 35,000 Avios for 429 euros (~$479, 1.37 cents each)

Amplify the Deal: It gets even better when you buy this Groupon through the Iberia shopping portal. Although members used to be able to score the headline bonus — which is currently 13x Avios per euro spent — Iberia has recently added a limitation that translates to: “You will receive a lower reward than the aforementioned when buying 2,000, 4,000, 8,000, 12,000 or 20,000 Avios (or any amount of Avios).” It’s unclear what the lower reward will be, but it’s better than nothing.

Even without this portal bonus, the average price of buying Avios is as cheap as 1.37 US cents per point. That’s a decent discount from the current TPG valuation of 1.5 cents per Avios. That said, to get this deal, you’re going to need to know Spanish or use a website translation tool to purchase:

Groupon Terms and Conditions

There’s a limit of one package per Iberia account for the 1,000 and 2,000 Avios packages. And each account is limited to buying a maximum of 100,000 Avios.

There’s also a new restriction this time around: “los Avios de esta promoción no serán válidos para redimir en aerolineas asiática” — which seems to translate to “the Avios of this promotion will not be valid to redeem in Asian airlines.” That’s a peculiar limitation.

You must redeem your Groupon voucher for Iberia Avios within a few weeks of purchasing. However, you don’t need to use the Avios within that time frame.

Steps to Maximize This Deal

  1. If you don’t have an Iberia Plus account, register online.
  2. Start at the Spanish version of the IberiaPluStore homepage and log in to your account at the upper right corner where it says “Acceder.” (If you try to start directly from the English version of the page or directly at the Groupon page, you may get an error.) Then after you’re logged in, you may need to switch the language into English using the “Idioma” box at the upper left corner.
  3. Navigate to the IberiaPluStore’s Groupon page.
  4. Click “Shop Now” to be transferred to Groupon with a tracking cookie. Then search “Avios” at the top of the page.
  5. Choose the package(s) that you want to purchase.
  6. Try using a card that doesn’t charge a foreign transaction fee. If you run into errors, try using PayPal to pay. While I’ve had to use PayPal in the past, I had no trouble using my Chase Sapphire Reserve when taking advantage of this deal in November 2018.
  7. Complete your purchase. You should be able to retrieve your voucher within a few minutes.
  8. Redeem your Groupon voucher(s) via the provided Google Docs form before the expiration date. When you submit the voucher code and your Iberia Plus account number, the form notes it takes 10 days for the Avios to post to your IberiaPlus account. So, be prepared for this delay.
  9. Check back to confirm your IberiaPluStore bonus Avios posted. It typically takes a few weeks before these bonus Avios post, so don’t expect them immediately.

Why Buy Avios

While there are some great redemptions using Iberia’s chart itself, the most-relevant redemptions for TPG readers are for domestic American Airlines awards. The cumulative distance-based Iberia award chart starts at just 11,000 Avios for flights less than 600 miles. Just note that round-trip awards are required.

However, a much more lucrative use of Avios is flying overseas in premium cabins. For example, it takes just 34,000 Avios one-way — or 68,000 Avios round-trip — to fly from New York (JFK), Boston (BOS) or Chicago (ORD) to Madrid (MAD) in business class. And taxes and fees are reasonable:

The cheapest way of getting this award would be to buy 2x packages of 35,000 Avios. That will get you 70,000 Avios — before any potential portal bonuses — for just 858 euro ($958). If you end up earning 5x Avios on the 858 euro purchase, that adds on another 4,290 Avios to your balance, leaving 6,290 Avios for a future trip.

After adding in the award’s taxes and fees of 182 euros ($205), you’d pay just $1,161 for a round-trip business class flight to Europe and have at least 2,000 Avios left over.

I’ve used Avios that I purchased during one of the previous offers toward the 25,500 Avios needed to book a one-way premium economy flight from New York’s JFK to Madrid (MAD) during an off-peak date.

Iberia A340-600 premium economy cabin with bathroom
Fly in premium economy between the US and Europe for just 25,500 Avios one-way on off-peak dates.

Transferring to British Airways Avios

You can also transfer Avios from your Iberia account to your British Airways account. But, there are some limitations before you can do so: Both of your accounts — British Airways’ Executive Club and Iberia’s Iberia Plus — must have been open for at least 90 days. So, if you open an Iberia Plus account for this promotion, you’ll need to wait 90 days to transfer Avios from Iberia to British Airways.

In addition to the 90-day rule, you need to make sure your personal information is listed identically in both Iberia’s and BA’s systems before you’re allowed to transfer between accounts. This is the roadblock that I ran into when trying to book the Iberia premium economy flight at the last minute. Your birth date, email address and name all have to match before the transfer can occur.

Once your Avios are transferred, you can take advantage of British Airways’ distance-based award chart. Need more British Airways Avios? You can earn up to 120,000 Avios from the British Airways Visa Signature Card (by earning 4x Avios on all purchases for the first year, up to $30,000 spent) or buy them with a 50% bonus now through May 21.

Bottom Line

For those looking for cheap Avios, this is a great opportunity to get points for as little as 1.37 cents each. While this is a great rate, it’s a hassle to have to buy the Avios through Spain’s Groupon page and wait up a couple of weeks for all of the points to post. Hopefully the step-by-step instructions above based on our experience from past similar deals will make it an easy deal to utilize.

For the latest travel news, deals and points and miles tips please subscribe to The Points Guy daily email newsletter.

Featured image by Benji Stawski/TPG

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