Dunno, Iberia was able to be profitable continously from 1995 until 2008, had a loss in 2009 like many other airlines and was profitable in 2010 again. That is not bad considering other major airlines in the same timeframe, including Big Airlines. It certainly was not a black hole like Sabena or Olympic were, although it never was as profitable as lufthansa either.
I'm all for keeping good working conditions, there are enough P2F idiots in the lowcost airlines already that actively ruin the whole profession, we do not need that in the major ones.