Air Madrid is in the midst of major growing pains due to rapid positive expansion...certainly subject to fuel costs...have just announced a feeder system using 320 aircraft throughout key european cities to madrid for the S and C America destinations using 310, 330 and 340 s... all this backed by its own tour operator, AladaTours, which is slowly gaining market share alongside Globalia and Marsans etc.
Pilots are very well treated, with several belgians, french and portugese airbus veterans as TRI and TRE´s. The rest are all spaniards, some ab initios, the rest highly experienced ex captains from hola, air nostrum and air plus or aerbal...
Not surprisingly, the guys calling the shots are pro local recruitment, so unless you speak fluent spanish and have lots of airbus knowledge to share and positive attitude, dont bother applying.
I fly the 330 at AM and I am very very content so far...