A day after the European Commission announced an in-depth investigation into the proposed acquisition of ITA Airways by Lufthansa,
Brussels presents another one: IAG’s proposed acquisition of independent Spanish carrier Air Europa. Again, the EC is concerned that the acquisition might reduce competition in Spain and on various international routes, it said on Wednesday.
International Airlines Group (IAG) notified the European Commission on December 11 of its intention to acquire Air Europa. The proposal dates back to November 2019, when IAG was prepared to pay €1.0 billion for the carrier that is owned by Globalia.
Six months later and after the outbreak of the first COVID-19 wave, the cards were played very differently. IAG wished to lower its offer to €500 million, which was rebuffed by Globalia. In August 2022, IAG took an option to convert a €100 million loan into a 20 percent share of Air Europa.
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