IBERIA

in full Compaa Mercantil Annima Iberia (Spanish: Iberia Commercial Limited-liability Company), Spanish state-owned airline created by law on June 7, 1940, and given rights to the air transport of persons and cargo within Spain. It took control of a privately owned company established in 1937, which in turn had revived the name of a company called Iberia, Compaa Area de Transportes, founded June 28, 1927. The current name was adopted Sept. 5, 1941. In the beginning, Iberia's service was entirely within Spain (including service to the resort of Majorca). After World War II, beginning in 1946, Iberia developed services to London and Latin America. Direct service to New York City was opened in 1954. Iberia now flies to various points in Europe, Africa, and North and South America.