How badly will BA be squeezed in the growing Spanish shambles?

The fact that Bankia is the major shareholder stakeholder in IAG the parent group of the merged Iberia and British Airways airlune  (misad)venture which has also recently absorbed the loss-making BMI does not bode well for Britain's flag carrying airline. Read Thursday's FT comment here and the Sunday Telegraph here.

The merger never made much sense when viewed from the Madrid hub airport which the FT has it is showing "weakening commercial trade". Living in SW France it once seemed a sensible routing option for the US East Coast, but several unhappy experiences have led our most recent booking to return via Paris CDG.

Put on top of that the deteriorating economic situation in Spain and the ever growing shambles that is Heathrow and it might appear that Bankia will be unlikely to be killed in a rush of buyers for its IAG stake!