You can carry a bag for rods and equipment at no additional charge so long as it falls within your free baggage allowance.
It is considered a transportable item within the passenger’s baggage allowance. If you add other items, exceeding the permitted number of free items, it will be considered excess baggage.
In accordance with a regulation from the Brazilian Civil Aviation Authority ANAC, for flights with Origin Brazil (outbound and return) although fishing equipment is included within the passenger’s baggage allowance, if it exceeds the allowance a charge of USD120 will apply for each extra item.
*If the operator is not Iberia, check the particular carriage conditions and allowances with the company.