In return for an advance payment of 75 million euros, Globalia released the International Airlines Group from the purchase agreement signed on November 4, 2019. This means that Air Europa will not be sold to IAG.

The two groups have agreed that in addition to the contractual penalty of 40 million euros, IAG has to pay a further 35 million euros to Globalia. The IAG subsidiary Iberia is thus buying itself out of its obligations.

Globalia and the International Airlines Group are currently negotiating alternative ways of working together. It is conceivable that deeper codeshare partnerships could be agreed. The Air Europa owner also wants to examine how the Spanish airline can be repositioned. The search for another buyer or partner is not excluded.