I am pretty naive when it comes to this side of things, but looking at the massive investments in Spanish Airports that appears to be going on. Wouldn't the Spanish prefer to develop their own major airports as larger European hubs at the expense of our own?
Only in the past few months Heathrow was saying they need to expand further to satisfy demand, or be over taken by other European hubs.
As I say, I am not much of a business analyst, but just a thought