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International Consolidated Airlines Group SA, parent company of British airlines British Airways and Iberia, on Thursday announced the acquisition of Air Europa for €500 million from the Spanish company Globalia.
‘The board of IAG believes that the acquisition remains strategically important for the group and positions it to benefit from growth opportunities in the Latin America and Caribbean market, as well as to increase connectivity to Asia,’ it said in a statement.
IAG’s Spanish airline Iberia had agreed to buy Air Europa in late 2019 for €1 billion, but the price was slashed to €500 million after the Covid-19 pandemic grounded the entire travel sector.
source: AFP
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