Like most smaller European airlines, Iberia fly few jets of every size. DC-10's,747, and who knows how many types in the European fleet. Now they Fly only A320's in Europe and A340's in the long haul. A340-600 is the right airplane for Iberia given its fleet mix. This plane is almost as big as the jumbo and reduces an extra type from the fleet. It can fly anywhere in the Americas. An A340-600 at Eldorado in Bogota, can it squeeze into the taxiway?
I don't think Boeing ever really had a chance with this one. Iberia already flies A340-300's, so it wouldn't make much sense for an airline of that size to add another long-haul widebody type. But I'm sure Boeing tried to sell the 777-300ER anyway.