UPDATE: Thankfully this has been proven a false alarm. Iberia’s award chart has always been the same since they converted to the Avios system, it just hadn’t been published in chart form before. British Airways has confirmed they don’t have plans to devalue Avios.
Avios are a favourite miles currency of mine for use in South America on LAN, and can save you a bundle on intra-Peru fares! I personally would also use them on Qantas for short-haul flights and on Comair (BA partner in South Africa) for my upcoming African adventure.
The current chart on British Airways (and Iberia up to today) was very attractive for short-haul, though once you get over 2000 miles into the 10k Avios zone you are probably better off with American AAdvantage miles.
Here is the new chart posted on Iberia’s website. The same rates apply to non OneWorld partners Avianca, Taca and a few others. Currently redemptions on Iberia and British Airways are the same as the old chart above.
Iberia only allows round-trip redemptions on partners so if British Airways follows suit, the rates below would be half that for a one-way since they do allow one-way redemptions on partners. Awards under 600 miles will cost 9750 Avios. 601-1000 miles will cost 12000 Avios. At this point, most redemptions with Avios cease to be a good deal and you are better off with American AAdvantage (providing THEY don’t devalue)! Bear in mind that BA charges YQ fuel surcharges on most partners and AA doesn’t.
If you have travel planned up to July 2015 requiring use of Avios, I recommend you book it asap!
BEST AVIOS REDEMPTIONS FOR ECO-TRAVELERS
LAN flights under 2000 miles within South America, also routes that AA has across two zones such as LIM-VVI (Lima to Santa Cruz, Bolivia).
Qantas flights under 2000 miles (must be QF metal, no Jetstar or codeshares).
BA flights on Comair within South Africa, I also used them for JNB-MRU as the taxes are cheaper using Avios.