I booked my flights with Iberia from Zagreb to Montevideo, and back from Lima to Zagreb, three legs in economy class (Zagreb - Madrid, Madrid - Montevideo, and back Madrid -Zagreb), and for a long inbound flight Lima - Madrid, I booked premium economy, and paid the appropriate price. It was done well in advance, 5 months before the flights. Just a week after the booking, IBERIA informed me that there are no places available in premium economy on my inbound flight Lima - Madrid, and that I was hence downgraded to economy. All my attempts to communicate with IBERIA and find a solution with which I would be reasonably happly failed. Online contact is practically impossible, so I tried at the Madrid and Lima airport, where they just had a one and only "solution" - fly and after all your flights have been accomplished, write to us to see about the possible refund.
24 hrs before my inbound flight, IBERIA informed me ( and probably other passengers as well) that they are experiencing problems with the inflight entertainment system so it would not work probably on the flight, and they gave us a motherly advice to download our own entertainment. The system indeed didn't work on the entire flight. There was no wifi either. At the flight Madrid - Zagreb (2.5 hrs) they charge passengers for everything, there is no even a glass of water offered for free.
I would suggest my fellow passengers, if there is any other option, avoid IBERIA, this was by far my worst experience ever.