Iberia

Iberia, Líneas Aéreas de España, S.A. (BMAD: IBLA), is the national airline of Spain. Based in Madrid, it operates an extensive international network of services. Its main bases are Madrid-Barajas Airport and Barcelona-El Prat Airport.
In 2008 the airline reported a net profit of €32 million (€327.6 million in 2007, €56.7 million in 2006, €395 million in 2005) — its 13th consecutive year of profits. Iberia transported 27,799,000 passengers in 2006 (27,675,000 in 2005).

Iberia Airlines, with Iberia Regional (operated by an independent carrier Air Nostrum), is a part of Iberia Group.
In addition to transporting passengers and freight, Iberia Group carries out related activities, such as aircraft maintenance, handling in airports, IT systems, and in-flight catering.
Iberia Group airlines fly to over 102 destinations in 39 countries. Via code-sharing arrangements with other companies, it offers flights to another 90 destinations.

Iberia, Compañía Aérea de Transportes was incorporated on June 28, 1927 with a capital investment by the financier Horacio Echeberrieta and Lufthansa of 1.1 million pesetas.
Flight operations started on 14 December 1927. Within a year, the company was sponsored by the Spanish government to provide postal transport between Madrid and Barcelona.
The airline was nationalized on 30 September 1944 and became part of INI. In 1946, it was the first airline to fly between Europe and South America after WWII, using a Douglas DC-4 flying from Madrid to Buenos Aires.
By the Pact of Madrid in 1953, visa requirements were eliminated for US visitors to Spain. This stimulated the commencement of transatlantic flights between Spain and United States the following year. In addition, the amendments made in Montreal to the Convention on International Civil Aviation on June 14, 1954, was very liberal to Spain, allowing mass tourism using charter planes.
During 2001 Iberia was privatized and shares were listed on stock exchanges.
By 2002, when Iberia celebrated its 75th anniversary, nearly 500 million people had flown with them.

On 5 February 2006 the new Terminal 4 at Madrid Barajas was given over to Iberia and the Oneworld alliance members. This provided much-needed expansion capabilities for Iberia.
Iberia alone is responsible for around 60% of the airport's traffic. In 2005 the airline and its regional branch Air Nostrum transported 21,619,041 passengers to/from Barajas alone.

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