In the last 12 years before merging with BA Iberia had a profit of 4.000 million €.
No, Iberia had cash reserves of €4 billion generated through investment (for future airframe investment I believe) not through profit. The investment was to entice partnerships and hopefully enable route generation to herald a return to profit.
BA has never been allowed to utilise any cash reserves from IB. That was a cornerstone of the IAG agreement that the cash reserves would never be used to plug the BA defecit. Each airline would have to sink or swim based upon its own merits. The cash reaserves are held by the group, the pensions deficit is being handled internally by BA through increased personal contribution, closing of the final salary pension scheme and an agreement to reduce overall contribution and a continued investment from BA to close the defecit. All of which are available to see in the annual figures.
Iberia is deep in the mire and was deep in the mire. There has never been any attempt at modernisation of working practices, no attempt at re-organising management structures and even less attempt at rationalising employee productivity.
This is NOT about BA/IB, the entire thing is being driven by the IB board recognising that the entire business is out of date and needs restructuring. There will be no more 'golden' investment into IB until it is streamlined and fit for purpose.
It doesn't matter how many figures you pump out IB is completely untenable in its current form. It has never made a profit it has only ever been utilised as a national carrier investment opportunity as many investors, rightly, believed that the Spanish Government wouldn't let it fail.