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03.12 - 22:47
BA owner IAG faces UK competition inquiry over Air Europa deal
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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
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