This is, of course, terrible. It won't affect me much personally since IAG already keeps BCN trapped in LCC hell.
But Ryanair are closing four of their Spanish bases at the end of this year, leaving a lot less competition for the domestic market. And I would be willing to put money on IAG removing UX point-to-point routes and making everything terminate in MAD. It's no secret that IB/IAG and AENA both want the same outcome: all roads lead to Madrid, and you don't go anywhere without passing through. Just look at our ridiculous high-speed train routes (and the fact that Spain's flag carrier doesn't even fly to their second-biggest city) for further evidence of that.
It's kind of surprising they're spending all that money to buy UX instead of just rat-f***ing them into bankruptcy like they did to SpanAir.
Oh, how I miss JK.