Originally Posted by
Yoshi212
While I don't know Iberia's fleet the A340-500 is definitely a real aircraft and was used by many airlines including EK and SQ (SIN-EWR) for its ability to fly very far distances and for SQ was seated as business class only. Iberia may be using this classification to refer to another type of aircraft but it's not a model that is only for Iberia.
There I knew I would be wrong. Let me have another guess. A345 is a jet that IB does not fly but they are designated as such when retrofitted.
I should just have dug out a link to the IB New Business Class thread in the IB forum, they explain it more succinctly (and accurately)