The largest airline of Spain is IBERIA, which has been in operation since 1927. It is the flag carrier of Spain and is headquartered in Madrid. IBERIA is one of the oldest airlines in the world and is a member of the International Air Transport Association (IATA). It operates flights to over 90 destinations in more than 40 countries around the world. IBERIA is also a founding member of the Oneworld alliance, which is one of the three major global airline alliances.