23rd Feb 2023 20:27
(Alliance News) - International Consolidated Airlines Group SA, parent company of British airlines British Airways and Iberia, on Thursday announced the acquisition of Air Europa for EUR500 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 EUR1 billion, but the price was slashed to EUR500 million after the Covid-19 pandemic grounded the entire travel sector.
source: AFP
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Related Shares:
International Airlines