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Iberia’s off-peak awards are one of the cheapest ways to fly to and from Europe in business class. You’ll pay just 34,000 Avios one-way on select dates, which is nearly half the cost of comparable business-class awards on other airline partners.

At the time of publication, there is off-peak business-class award space from late 2024 through early 2025 between Iberia’s U.S. gateways in New York, Boston, Chicago and Dallas and its hub in Madrid, as first reported by Upgraded Points.

Let’s take a look at what we’re seeing.

Deal basics

Airline: Iberia

Routes: From New York, Boston, Chicago and Dallas to Madrid

How to book: Directly with the airline

Travel dates: November 2024 through January 2025

Book by: As soon as possible

Blackout dates: Vary by route

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Based on a test search conducted for this story, the 34,000-Avios award availability is valid for business-class flights on select dates starting in early November through the beginning of January, when business-class bookings increase to 50,000 Avios around New Year’s Eve. The Avios price decreases again around Jan. 7.

Also note that while there was open availability at the time of publication, some dates seem to be filling in. You could reasonably expect to find only economy or premium economy award seats left, depending on your travel dates and routes.

Sample routes

To search for this deal, start by browsing Iberia’s award chart, which highlights dates with off-peak pricing when searching for award tickets on Iberia’s website. Off-peak dates are shown below in white.

Although the off-peak calendar can direct your search, you’ll need to play around with your dates to find the 34,000-Avios business-class award availability.

The following flights were priced at 34,000 Avios each way at the time of publication. We cannot guarantee the below flights will be available when you book:

• Boston Logan International Airport (BOS) to Adolfo Suárez Madrid-Barajas Airport (MAD) on Nov. 28
• John F. Kennedy International Airport (JFK) to MAD on Nov. 29
• BOS to MAD on Nov. 30
• O’Hare International Airport (ORD) to MAD on Dec. 3
• JFK to MAD on Jan. 11

Note that availability from Dallas Fort Worth International Airport (DFW) to MAD starts at 42,500 Avios due to its distance-based chart. That route is available to book, though, including for Nov. 8.

To book this deal, note that you’ll generally score the best award price by booking with Iberia Avios, especially for nonstop flights. If you need Avios, you can transfer points to Iberia from American Express Membership Rewards, Chase Ultimate Rewards and Marriott Bonvoy. You can also move Avios from British Airways to Iberia — as long as your account details match, they’ve been open for at least 90 days and are both active.

You can also book Iberia award tickets on British Airways’ “Book with Avios” page.

Here are the award rates you’d pay for nonstop flights out of (or into) the aforementioned gateways:

• BOS, JFK and ORD: 34,000 Avios on off-peak dates (plus $119 to $129.90 in taxes and fees), 50,000 Avios on peak dates (plus $119 to $129.90 in taxes and fees)
• DFW: 42,500 Avios on off-peak dates (plus $129.90 in taxes and fees), 62,500 Avios on peak dates ($129.90 in taxes and fees)

Alternatively, you can book these tickets for between 57,000 and 225,000 American Airlines AAdvantage miles each way. While more expensive than Iberia on off-peak dates, it can be a good deal if you have AAdvantage miles you’re waiting to redeem. You can find and book Iberia award tickets on American’s website.

Booking through American could also be a good option for connecting to another destination in Europe. Iberia uses a distance-based award chart, so when you add a connecting flight, it’ll require additional Avios. Regardless of whether you book through Iberia or American, you’ll pay around $250 in taxes and fees for a round-trip, business-class ticket booked with either of these programs. This makes Iberia a great way to avoid British Airways’ huge fuel surcharges when flying to Europe, especially if you’re sitting on a pile of Avios.

When paying the taxes and fees on your award ticket, be sure to use a credit card that earns additional points on airfare purchases and offers travel protections in case anything goes wrong, such as The Platinum Card® from American Express, Chase Sapphire Reserve® or Chase Sapphire Preferred® Card.

If you don’t have enough points to jump on this deal now — or you want to be prepared when one comes up in the future — the best strategy is to earn transferable points. With this in mind, you may want to consider adding one of the following cards to your wallet:

• Chase Sapphire Preferred® Card: Earn 60,000 bonus points after you spend $4,000 on purchases in the first three months of account opening.
• Chase Sapphire Reserve®: Earn 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening.
• The Platinum Card® from American Express: Earn 80,000 Membership Rewards points after you use your new card to make $8,000 in purchases in your first six months of account opening, though be sure to check the CardMatch tool to see if you’re targeted for a 150,000-point offer (offer subject to change at any time).
• American Express® Gold Card: Earn 60,000 Membership Rewards points after you spend $6,000 on purchases on your new card in your first six months, though be sure to check the CardMatch tool to see if you’re targeted for a 90,000-point offer (subject to change at any time).