Spanish airline Iberia and its parent International Airline Groups (IAG) continue to work on an acquisition plan for Air Europa, but it will have to be based on a different business structure if it wants to meet conditions set by the Spanish government and the European Commission. Not helpful is the financial situation of Air Europa owner Globalia. Is a new acquisition plan of Air Europa possible?
There was some confusion on December 15, when IAG released a media statement early in the morning which confirmed a report in the Financial Times that discussions with Air Europa-owner Globalia were in an advanced stage to terminate to acquisition. But later that day, IAG CEO Luis Gallego explained on CAPA Live that “we will not continue with the current structure but are trying to have a new structure that allows this deal to happen.” In a new statement on December 16, IAG says that it will evaluate with Globalia alternative structures before the end of January “that may be of interest to both companies and offer significant benefits for their shareholders, customers, and employees.”
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