For years, Iberia has (inexplicably) priced flights to and from Chicago-O'Hare (ORD) at the same rate as much shorter routes to the likes of Boston (BOS) and New York (JKF) – just 16,000 Avios each way in economy and 40,500 Avios each way in business class after an unannounced price increase last summer.
Thanks to a tip from Thrifty Traveler Premium member Lucas C., it's time to pour one out because it appears that sweet spot is officially dead – or dying at least.
Search for a one-way Iberia flight from Chicago to the Spanish carrier's megahub in Madrid (MAD), and the lowest price you'll find now is 20,000 Avios in economy and 50,500 in business class. That's a 25% increase overnight … and without a word of warning!
See what all the fuss is about by reading our reviews of Iberia business class on the new Airbus A321neo and older A330!
With Iberia's peak and off-peak pricing, you'll now see some dates priced at 74,000 Avios each way in business class. And premium economy rates increased by 7,000 Avios in each direction, too.
This was traditionally one of the most reliable ways to get to Europe using points and miles (no matter the cabin) – and a real savings for anyone in the middle of the country, or those willing to book a cheap positioning flight to Chicago. But now, this route costs the same as longer flights to Miami (MIA) and Dallas-Fort Worth (DFW).
To be perfectly clear, this price increase makes perfect sense: The flight from Madrid to Miami is just a couple of hundred miles longer than the one to Chicago, but it still stings to see a loophole like this closed overnight.
The good news? You can still book at the old rate through Iberia's partner, British Airways … for now. Search for that same exact business class flight from Chicago to Madrid shown above, and you'll see a rate of just 40,500 Avios and the same $140 (or so) in taxes and fees. Economy and premium economy awards are cheaper at 16,000 and 29,500 Avios each way (respectively) with British Airways, too.
If you had your sights set on taking advantage of this sweet spot, I wouldn't wait around to book: It's only a matter of time (maybe just hours) before British Airways matches Iberia's pricing. Unfortunately, availability with both Iberia and British Airways is pretty spotty right now.
While seemingly every carrier on the planet has raised award rates and excised sweet spots over and over again, the fact that this sweet spot went untouched – even after prices went up last year – was a shocker. Pair it with one of the frequent 20% or even 30% transfer bonuses to British Airways and Iberia from the big banks like American Express and Chase, and it gets even better.
Considering you can transfer credit card points from all the major banks like American Express, Chase, Capital One, and more – plus, you can easily combine Avios between several different airlines – getting the miles needed to book is quite easy.
Even at the new, higher prices, this is still one of the cheapest ways to get to Europe in style.
Bottom Line
Iberia has quietly killed one of its best award sweet spots, raising Chicago-to-Madrid pricing by 25% overnight. At the new rates, you'll pay 20,000 Avios in economy, 36,500 in premium economy, and 50,500 in business class each way – the same price as longer routes to Miami and Dallas.
The silver lining? You can still book at the old, lower rates through British Airways for now … but it’s only a matter of time before that loophole closes, too.
