Famous Spanish airline Iberia has initiated an interesting method to deal with increasing competition. From now on, passengers of Iberia will be able to purchase tickets by auction.The company's official website now has an auction section called "subasta," and Iberia will offer tickets to certain cities it has flights to for 48 hours in the section. At the end of 48 hours, the highest bidder will be the owner of the ticket.Currently, only tickets to New York, Miami, Paris and Rome will be sold by this method. The opening price of tickets to New York and Miami was set at 50 euros while tickets for Paris and Rome start from 20 euros. The airline has pointed out that Spain has become the first country applying this method in Europe.