Anyway, about this deal, I find that I don't need a lot of Avios because of the massively valuable "Avios & Money" redemption, where you can effectively "buy" Avios for very cheap.
For example, on Iberia:
JFK-MAD - OFF PEAK (Iberia) - USD amounts vary by EUR exchange rate
17,000 + $ 72.86
15,300 + $ 97.86
13,600 + $ 117.86
11,900 + $ 142.86
10,200 + $ 162.86
8,500 + $ 182.86
or on BA:
JFK-GIG or JFK-GRU (American/TAM)
25,000 + $5.60
20,000 + $80.60
16,250 + $120.60
12,500 + $160.60
10,000 + $185.60
8,750 + $200.60
If you want to conserve Avios, just take the lowest redemption option. It's still a good deal.