Iberia have a low scale salary for new joiners, but still, people who join are many to come from Ryanair, easyJet and Norwegian. Anyway, as it is already officially said by Willie Walsh and by the Iberia CEO, "LEVEL" will eventually be a proper airline and Iberia is just launching it for 12 months. Funny to read people her saying that terms and conditions will be crap, actually nobody knows yet. The expansion plan is to quicly get 30 aircraft and open more bases in Spain and Europe, such as Paris. I guess then the new "frenchblue airlines" will not be very happy to hear that. Same for Norwegian who is just opening a new b787 base in Paris.
IAG a very profitable group, all its airlines make huge benefits, Qatar has invested a lot of money in IAG, the battle will be interesting.
20 years ago nobody believed in Ryanair and easyjet. This industry is now repeating the revolution with low cost long haul.