Iberia considering 10 new routes, could be great news for American frequent fliers

It’s time to raise your sangria glass and shout "Olé!" IAG, the parent company of British Airways and Iberia, announced strong financial results for Iberia in a recent news release stating that Iberia posted its first profit in six years.

Why should you care? Because what’s good for Iberia can be good for you, too. This new-found success translates into several proposed routes and aircraft with up to 13 more long-haul aircraft coming to its Madrid base.

Iberia execs are reportedly studying at least 10 new routes, which could be added to its network within the next two years, although according to an Iberia spokesperson, some of the new aircraft won't arrive until 2018. Possible destinations include Brasilia, Doha, Johannesburg, Managua, San Juan, and Tokyo among others.

New routes mean more opportunities to roam as freely as Don Quijote, albeit with frequent-flier miles rather than on horseback. Iberia is a long-time favorite of frequent fliers as it does not charge the same high fuel surcharges and airport taxes that its sibling British Airways often does.

Iberia participates in the Avios frequent flyer program like British Airways, and some of its redemptions represent exceptional value. Awards for off-peak flights less than 650 miles in distance cost just 4,500 Avios points, which is one of the best award redemptions out there.

With fewer fees than British Airways redemptions and an expanding route map, Iberia could become the next go-to option for Americans looking to redeem their miles for long-haul international travel.

Watch this space, because when new routes are announced, it's easier to strike gold and snag those coveted award seats.