Pros
It is in Spain so you can enjoy Spanish life. The environment is pretty good and bosses are in general flexible. The project carried out are interesting so the work is also stimulating.
Cons
Once you put aside the external climatic conditions, you start realizing that little by little small incentives are cut by the management with silly excuses just to cut expenses, almost no one gets promotions and salary increase because of the share-holders want bigger margins. It seems that the management and HR staff is oversized for a company of +200 people. Eventually If you're not from the area close to Madrid, you start looking for rewarding alternatives in the other aerospace companies just across the same city or abroad because you see the example of many people who left out of frustration for the professional immobility and lack of prospects.