Here's a few explanations:

1. It has only been 18 months since the merger, it is not a long time to allign everything together. Even Delta who merged in 2007 still is integrating things together, such as the NWA 747 have a different and inferior product (apparently never been on that particular subfleet).

2. Iberia have got bigger fish to fry. They are making large losses thanks to the economy, fuel prices and their uncompetitive short-haul product. They are re-structuring with Ibxpress among other measures, which I assume will be the priority.

3. Aren't they supposed to be refurbishing the A340-600 and returning most of the A340-300 to lessors? I am sure I read this on an IAG report.