Today news
About the same in other media
03.12 - 22:47
BA owner IAG faces UK competition inquiry over Air Europa deal
Reading now: 430
The UK’s competition regulator is examining the proposed €500m (£420m) takeover of Air Europa by British Airways owner International Airlines Group, adding another potential hurdle to the long-trailed acquisition.
IAG first announced its intention to buy the Spanish airline in late 2019 for €1bn, but in January it announced a renegotiated deal at half that price after the coronavirus pandemic caused enormous losses among airlines.
IAG owns both Iberia, Spain’s flag carrier airline, and Vueling, meaning that it has a significant crossover in their networks’ crossover with Mallorca-based Air Europa.
If the takeover goes ahead IAG will not have to pay until well into the expected recovery from the pandemic, as British Airways slowly returns to a
Read more on theguardian.comAbout this in other media
Zara owner Inditex names founder’s daughter as chair theguardian.com /3 years ago
UK competition watchdog orders Meta to sell gif website Giphy theguardian.com /3 years ago
US facial recognition firm faces £17m UK fine for ‘serious breaches’ theguardian.com /3 years ago
Show more
The website finance-news.co. is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
