Leading Spanish airline Iberia is involved in a big money takeover deal, sending shares in the Spanish flag carrier soaring as speculation continues.

The latest chapter in the intrigue of the Iberia sale saw Banco Santander Central Hispano rumoured to be joining the bidding for the airline, with shares rising again in response to the claims.

High competition for the airline is no surprise, seeing as Iberia is one of the leading providers of flights between Spain and the UK, allowing numerous British property investors and tourists easy access to the country.

According to Forbes.com, interannual demand measured in passenger revenue kilometres rose 3.5 per cent to 40.758 billion over the nine months to September of this year.

With such potentially lucrative proceeds, competitors and joint bidders have been rumoured to be challenging the original British Airways group indicative bid for its Spanish rival.

Air travel to Spain, especially regarding UK routes, demands a high premium – apparently higher than the €3.4 billion (£2.4 billion) offered by the British Airways group bid in May and rejected by Iberia.