Yes - I learned it the hard way. Actually, I bought several tickets in advance with Avios to fly on AA metal. The issues started when I need to cancel one of the tickets - I was made aware that the tickets booked with Avios with other partners are not changeable neither refundable

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For this particular ticket, later on, AA also changed schedule - so I called Iberia to cancel the ticket, as the new time did not fit my plans. They cancel the flights and just did not refunded me, tries to get reembursement were in vain.
Everytime you call iberia you talk to agents that are not really agents - they can not modify or resolve anything on the phone - they always refere to a supervisor.....not to mention that everytime you call them, they have a different version of the situation....nightmare.