Here' s the thing, IAG already has long haul in Spain with Iberia. They already have an estabilished full service airline, with estabished contracts, and an estabilished career path.
Now, to start a new long haul operation in the exact same country, fully owned by the exact same IAG can only suggest one thing: lower (much lower probably) terms and conditions and much higher productivity.
This is only my opinion, but we are hopefully talking about the recruitment of highly experienced jet captains here (zero hrs contracts? is that even a legal thing??) I am hoping to be proven very wrong when the conditions come out, but I have to say I am not holding my breath.
One thing I can promise you though, when the pletora of managers are aligned for the mission they'll sure be on no zero hrs contract, or zero hrs bonuses. I'd say it's about time we woke up, but we overslept way too long already!