I did the trip on the weekend, all went smoothly with the transfers, had plenty of time to make the connections. I only had carry on so no dramas with hold luggage at least and the flights were all on time. I must say I was deeply unimpressed with the Iberia lounge in Madrid T4 having no food beyond chips and nuts. Other than that it seemed to be quite a decent lounge, with plenty of amenities. The usual selection of drinks, plenty of computers, a darkened room for sleeping and showers as well. Why you would come up with a very good lounge like that though and not even have sandwiches or something like that is absolutely beyond me.

The Iberia lounge in LHR T2 was pretty terrible, again no real food and it felt a lot more like a serviced lounge rather than the genuine article. I'd say that the AENA one in Malaga was actually better than the Iberia one in T2.

I don't know if it is just that I am spoilt normally using BA and Qantas lounges but I was very unimpressed with the standard of Iberia's offering. The one I used last time in T4S was very good and actually had some real food in there so Iberia obviously know what they should be aiming for but for some reason have not done it in T4. I can understand that their one in LHR T2 is fairly rubbish but to not get the lounge in one of the main terminals of your home airport right is just inexcusable, particularly if you clearly know how it should be done.