Mmmm......does make me wonder why the merger was so attractive then?
I'll spell it out for you Wonker, in simple words, just for you.
Route access to South America/Africa. A business model that, after restructuring, has the potential to make money. Plenty of space at Madrid. The two companies route plans have certain synergies that make good potential for profitable returns.
It's the thorny process of getting the restructuring that takes time. Killing the company won't improve anyone's working practices.