BA owner IAG to scrap plan to buy Spanish carrier Air Europa
The British Airways and Iberia owner, International Airlines Group, is to scrap its plan to buy the Spanish airline Air Europa, a deal that was being investigated by competition authorities in the UK and the EU.
The move comes more than two years after International Airlines Group (IAG) – under the former chief executive Willie Walsh – first announced plans to buy the carrier from the Spanish tourism group Globalia for €1bn (£850m) in November 2019, before renegotiating the deal at half the price after Covid-19 closed down most international travel, prompting huge losses at airlines.
Stephen Gunning, IAG’s chief financial officer, said in a statement: “International Airlines Group and Globalia today confirm that discussions are at an advanced
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