I have heard a rumour, and I emphasise at this stage it is purely a rumour, that IB are interested in codesharing on some ZB routes between Spain and the UK. I know that before they turned their attentions to LoCo, Monarch were looking at various codeshare possibilities on their scheduled (ZB) routes. They work extremely closely with IB at all their Spanish destination airports, in fact I don't think there's one Spanish airport where they aren't handled by Iberia. By codesharing, IB would be able to get a piece of the Spain-UK market and it would allow UK passengers to connect in Spain onto Iberia services ie MAN-BCN-South America. In return ZB would see increased seat sales, an increased profile for Spanish based customers and it would create the possibility of opening new routes such as MAD.