IAG takes full control of Air Europa

The International Airlines Group has agreed with Globalia that the remaining 80 percent of the airline Air Europa will be taken over at a price of 400 million euros. This means that the carrier has been bought for around 500 million euros.

It is planned that Air Europa will be merged with IAG Group member Iberia. However, the project supported by the Spanish government is still subject to approval by the EU Commission and other competition authorities. There were considerable concerns at the first attempt, which also contributed to the fact that it was canceled.

The two contractual partners are currently assuming that obtaining approval can take up to 18 months. The Board of Directors of IAG believes that the acquisition will enable the group to take advantage of growth opportunities in the Latin American and Caribbean markets as well as improved connectivity to Asia.