Copyright © 2019 News in Flight | All Rights Reserved
British Airways’ owner IAG will buy a Spanish budget airline Air Europa at half of the original cost.
IAG will purchase Air Europa for £450 million to be paid by 2026.
In 2019, the group agreed to purchase the air Europa for £900million, and renegotiated to buy for just £450 million.
The IAG argues the Air Europa takeover will give its existing airlines in the country the dominance at the country’s largest airport, Madrid Barajas, and on routes to South America.
IAG currently own Spanish carriers Iberia and Vueling in addition Aer Lingus, British Airways, IAG Cargo, LEVEL and Avios Group
Air Europa is one of Spain’s larger passenger airlines with a fleet of 54 Aircraft.