The routes are:
- 2,295 Avios each-way – Madrid to Lisbon or Oran
- 6,500 Avios each-way – Madrid to Athens or Nouakchott (look it up!)
- 8,125 Avios each-way – Madrid to Accra
- 13,000 Avios each-way – Madrid to Luanda
- 15,000 Avios each-way – Madrid or Barcelona to Boston, Chicago, New York or San Juan (Puerto Rico)
- 18,750 Avios each-way – Madrid to Los Angeles, Miami or San Salvador
- 22,500 Avios each-way – Madrid or Barcelona to Buenos Aires
These are all for Economy redemptions, booked for travel before the end of October. EDIT: From the comments below, it seems that the same percentage discount also applies to Business redemptions.
You must book via Iberia Plus, not British Airways Executive Club, and you can only transfer Avios to IB if you have been a member for 90 days. To get the Economy redemption numbers listed above, you need to select ‘Blue’ level redemptions, which are Iberia’s discounted Economy redemptions. (Unlike BA, Iberia has two levels of Economy redemptions, with ‘Blue’ being cheaper than ‘Economy’.)
Whilst you have to get to Madrid to pick up these redemptions, you will also benefit from substantially lower taxes and charges on Iberia redemptions compared with BAEC. I discussed this is in more in detail in this post – ‘Dramatically cut your taxes with long-haul Iberia redemptions‘.
You will also avoid long-haul Air Passenger Duty if you book UK-Madrid and Madrid-XXXX on separate tickets, although this can leave you exposed if your first flight is delayed.