Avios, Explained: One Currency, Four Programs, Very Different Prices

June 10, 2026 · 5 min read

Four different Amex transfer partners — British Airways, Iberia, Qatar Airways, and Aer Lingus — all run on the same points currency. That's not redundancy; it's arbitrage. The same seat is often listed in all four programs at different prices.

How the family works

Avios is a shared currency operated across the IAG airline group and friends. Each program prices awards with its own chart, its own surcharge policy, and its own peak/off-peak calendar — but balances move between linked accounts at 1:1, usually instantly. (Finnair and Vueling use Avios too; as of mid-2026, moves to and from Qatar and Finnair route through British Airways first.)

For Amex holders this means one decision — "transfer to Avios" — followed by a second, more interesting one: which program do I book through?

The same seat, four prices

ProgramPersonalityUse it for
British Airways ClubBig network, big surcharges on BA long-haulShort partner hops (AA domestic, intra-Europe); household accounts for pooling
Iberia PlusOff-peak calendar with the family's best long-haul pricesOff-peak business to Madrid — one of the cheapest premium awards to Europe anywhere
Qatar Privilege ClubQsuite — arguably the best business class flyingDoha and onward connections across Asia, Africa, Australia
Aer Lingus AerClubNo alliance, quietly usefulTransatlantic to Dublin with low surcharges and US preclearance

The play in practice

  1. Find the flight first. Search the operating airline's award space before moving anything.
  2. Price it in every Avios program you can. A BA-operated flight booked via Iberia can carry materially lower surcharges than the same flight booked via BA.
  3. Transfer Amex → the cheapest program, then book. All four take Amex at 1:1, so you transfer directly into whichever wallet wins.

The classic example: transatlantic on BA metal carries painful surcharges booked through BA — often $400+ each way in business. The identical flight through Iberia Plus can cut that meaningfully, and an off-peak Iberia-operated award skips most of it entirely.

See the family on the map: pick any Avios program and the other three light up as same-currency siblings.

Open the points map →

Avios transfer mechanics and surcharge policies current as of mid-2026; both change periodically. Check the routing rules inside each program before moving a large balance.

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