The respective supervisory boards of the International Airlines Group and the group subsidiary Iberia have given the green light for the takeover of the competitor Air Europa. The purchase price is only 500 million euros and should not be paid until 2026.

Furthermore, the IAG obviously does not want any influence from the state. The condition is that the Sociedad Estatal de Participaciones Industriales should not send any supervisory boards. The state fund, which was set up as a result of the corona pandemic, is granting Air Europa a loan of EUR 475 million. It remains to be seen whether the government will accept the late payment of the purchase price and also forego board seats.