To save you reading that blog it basically says Iberia has been profitable since 2000, then BA came along who were close to bankruptcy, stole Iberias Mexico and Johannesburg routes and as a result Iberia are now bankrupt. It doesn't mention how BA moved from being close to bankruptcy to profitability, it doesn't mention that BA flew to JNB and MEX long before IAG came on the scene (and hasn't increased capacity to either destination in the last 7 years), and doesn't explain how Iberia have lost money for the last 5 years even though IAG came into existence only 3 years ago. Basically, the foreigners are all to blame and Iberias demise has nothing to do with Iberia.