Limited offer: Secure a lie-flat business class seat to Madrid for just 17,000 Avios

Looking to travel to Europe in a lie-flat business class seat for only 17,000 points plus under $100 in taxes and fees? Alternatively, consider economy awards for the family starting at just 8,500 miles per ticket (also with taxes/fees under $100). This isn't a dream; these are genuine award prices available for a limited time due to a 50% discount on Iberia flights to Madrid valid until Aug. 30, 2020.

Take a closer look at this fantastic promotion.

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Get 50% off when booking Iberia awards

As noted by One Mile at a Time, the 50% discount brings down the price of Iberia awards from New York, Boston, or Chicago to Madrid on off-peak dates to just 17,000 Avios for business class and 8,500 Avios for economy class. This promotion is valid for flights departing between Sept. 1, 2020, and March 15, 2021.

Besides New York, Chicago, and Boston, Iberia also offers flights to Madrid from Los Angeles, San Francisco, and Miami. Departing from these locations will require additional points (21,250 each way) due to Iberia's distance-based award pricing. Nonetheless, it remains a fantastic deal for transatlantic business class.

Please note that the prices mentioned above apply to off-peak travel dates, which can be found on the Iberia website. While 2021 dates have not been officially released, they are bookable online and generally align with Iberia's 2020 dates. Many of these dates offer three or more business class seats.

Lastly, Iberia's website displays standard off-peak pricing when you search for awards. However, the 50% discount will be shown once you select your desired cabin. You'll see how many Avios are needed if you don't have enough to complete your booking.

The "Avios and Money" option can also offer great value. You can book a one-way business class ticket from New York-JFK to Madrid for just 3,400 Avios and $344.34, making it a fantastic alternative to purchasing a cash ticket. Do the calculations to see what suits your budget best.

Should I take advantage of this discounted award now?

At the time of writing, Americans are still prohibited from entering Europe due to the coronavirus pandemic. Unless you hold dual European citizenship, we recommend only considering these tickets for early 2021. Even then, there's no assurance that the EU will permit American entry, so there's a level of risk involved in booking these flights speculatively.

A quick heads-up: Iberia's customer service isn't the most efficient. I've encountered long wait times and significant delays in getting points refunded. Additionally, a cancellation fee may apply if you need to make adjustments, so proceed with caution when booking these discounted tickets.

Transfer Points to Iberia

To increase your Iberia account balance, you can transfer points from Chase Ultimate Rewards and American Express Membership Rewards at a 1:1 ratio. Transfers from Chase Ultimate Rewards to Iberia are typically instantaneous, while transfers from Amex Membership Rewards may take up to 48 hours.

You can earn Membership Rewards points through credit cards such as The Platinum Card® from American Express or the American Express® Gold Card. Meanwhile, Ultimate Rewards can be earned with the Chase Sapphire Preferred Card or the Chase Sapphire Reserve.

Booking awards with Avios through Iberia can lead to significantly lower fees and surcharges compared to booking through British Airways. You can transfer your Avios from British Airways to Iberia, but there are a few important conditions: both accounts must be at least 90 days old and have had recent activity.

This transfer option from British Airways to Iberia also provides a workaround for the 48-hour wait when transferring points from Membership Rewards to Iberia. Amex points transfer instantly to British Airways Avios, and you can then move those points to Iberia without delay.

Conclusion

Spending just 17,000 points plus under $100 in taxes and fees for a transatlantic journey in a lie-flat business class seat is a fantastic offer. This is precisely the kind of opportunity that allows families to travel to Europe affordably. While the promotion is valid until Aug. 30, we suggest booking as soon as possible, as award availability—especially in business class—can fill up rapidly.