So here's my personal calculation.
I was already looking at flights to Colombia for next Spring, as I've always wanted to visit the country. Direct flights MAD-BOG in (LA-plated) IB Business are pricing out at €2,736. I can probably do a bit better so let's call the reference price €2,500 (for a direct flight in decent J).
IB redemption MAD-BOG-MAD has plenty of availability around my dates for 85k Avios + €191.33.
I have now bought 10 promotional tickets for a total of €278.51 so my total outlay will be €469.83. I consider that pretty good for direct flights on an IB A340 in J, considering I would struggle to find a revenue ticket even in Y for that price
My promo tickets are MAD-OVD (x7) plus 1 each of MAD-IBZ, MAD-MAH and MAD-SVQ. I reckon I will actually fly some of these promo sectors.
Assuming my 90k Avios credit next week (rumour has it overnight on 30/06) then I will booking MAD-BOG fairly soon thereafter
