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At the moment, it appears that you can only earn Avios via Iberia Plus, according to this chart:
The cheapest fares appear to fall into “A” class, which will earn you a whopping 10% of miles flown! No more than 600 Avios each way I would guess…
For the moment, I can see no mention of earning Iberia Plus “Elite Points” from flights with LEVEL.
The new routes fall into the same award band structure as the rest of British Airways and Iberia.
Oakland, Los Angeles and Punta Cana are in Band 6, whilst Buenos Aires falls into Band 7.
You can book LEVEL redemptions online. Here’s what I found for the Oakland route.
The total cost in Avios & Money for an off-peak return reward from Barcelona to Oakland in Premium Economy is:
I suspect that LEVEL rewards will be refundable upon payment of a cancellation fee. “Economy Class” rewards cost more Avios and usually come with improved availability and free cancellation, so I can’t see how Iberia Plus could offer a non-refundable “Economy Class” and remain consistent. But take care, since Vueling rewards are completely non-refundable, the same principle could apply to LEVEL.
All indications suggest that LEVEL is an initiative mainly driven by Iberia. LEVEL is not going to be a member of Oneworld, so alliance benefits (miles earning, baggage, lounge entry) will not apply. For the moment, not even Iberia Plus elite members will receive preferential treatment. I also see no signs of British Airways Executive Club adding anything to do with LEVEL (but of course you can always earn Avios with Iberia Plus and Combine Your Avios). Stay tuned…