Iberia Club members in Spain have a new way to spend Avios. They can now trade them for shopping vouchers at El Corte Inglés, the Spanish department store group.
IAG Loyalty, which runs the Avios currency, announced the partnership on Oct. 22, 2026, and said it takes effect that day. Some reports, including the Global Loyalty Organisation, give the launch date as Oct. 21.
What you can buy
The vouchers are worth between €5 and €250. Members create them through avios.com. They work across the El Corte Inglés group, including:
- El Corte Inglés department stores
- Hipercor
- Supercor
- Supermercados El Corte Inglés
- Sfera
- Outlet El Corte Inglés
You can use them online, in the apps and in physical stores. That covers fashion, department store goods and groceries.
The exchange rate
IAG Loyalty's announcement does not state the price in Avios. The Global Loyalty Organisation reported the rate as 10,000 Avios for a €50 voucher. That works out to half a euro cent per Avios.
The same report lists a few more rules:
- Members can create up to five vouchers in a seven-day period.
- The combined value of those vouchers is capped at €250.
- Each voucher is valid for 12 months.
- Each voucher must be used in a single purchase worth at least the voucher amount.
- Some products and categories are excluded.
Is it a good deal?
For most points fans, flights will still get more value. Half a cent per Avios is a fixed, modest return. Business class awards can often do much better.
But a fixed value has its place. Retail vouchers can be a smart use for small or stranded balances. They can also help if you do not plan to fly soon, or if award seats you want are hard to find. And groceries are something nearly everyone buys.
The Global Loyalty Organisation made a similar point. It said the exchange rate will shape how attractive retail redemption looks next to flights.
What Iberia and IAG said
Beatriz Guillén, Iberia's customer director, said the partnership gives members more ways to use Avios in daily life. She noted that it brings together two well-known Spanish brands.
Rob McDonald, chief commercial officer at IAG Loyalty, said the deal is meant to make Avios more relevant and easier to use for members in Spain.
Who can use it
This is an Iberia Club option. Avios is shared by several programs, including British Airways, Aer Lingus, Vueling, Qatar Airways and Finnair. Members of those programs who want to use the vouchers would need to move their Avios into an Iberia Club account first, where the programs allow it.
The vouchers are also built for shoppers in Spain. El Corte Inglés operates mainly in Spain, so the value is highest for people who live there or visit often.
Buzz on X
Spanish travel and news accounts shared the launch.
What to do now
If you have a small Iberia Club balance, this is now an easy way to use it. Log in at avios.com to see the current voucher pricing in your account. Compare that with any flights you want before you redeem. Once you turn Avios into a voucher, you are locked into that value for 12 months.