It is too good to be true. You get what you pay for.
Some schools pay ATPL instructors a decent hourly wage, so they get some experienced pilots to teach. Ibertour offers slightly above minimum wage to their ATPL instructors, so they are going to get the lowest caliber instructors.
I think they have 4 aircraft; 1 Seneca, 2 C172s, 1 DA-20 Katana. I could be wrong on the exact numbers. I did see inside one of their C172s... they used color tape on the outside of the glass of the airspeed indicator to create the white arc, green arc, yellow arc, and red arc. I think their other C172 is a G1000 which they bought after Top Fly went bust.
I don't see it as a sustainable business model. The price is too low. When I talked to their head of training, he said the price was only a promotional rate to get people into the school, and later on the price would go up.
I think their intentions are good, but the execution is lacking.