United Kingdom
United States
Asia Pacific
IAG making full acquisition of Air Europa
British Airways parent International Airlines Group (IAG) has agreed to fully acquire Air Europa.
It will buy the remaining 80% of the airline from owner Globalia for €400 million.
IAG currently holds a 20% stake.
Air Europa will continue operating under its brand name but will be managed by other IAG airline Iberia.
Air Europa operates a fleet of 50 Boeing 787 Dreamliners and Boeing 737s, and has a strong presence in Latin America.
IAG says the acquisition will give it a strong foothold in the Latin America-Europe market while expanding into Asia.
IAG will pay €200 million once the takeover gets regulatory approval.
The remaining €200 million will be paid in IAG shares and cash.
IAG has originally tried to buy Air Europa for €1 billion in 2019.
That was skippered by competition concerns and the pandemic downturn.
Last year IAG stepped in to grant Air Europa a €100 million loan which it converted into a 20% stake.
Related News Stories:
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
Dozens fall ill in P&O Cruises ship outbreak
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
Unexpected wave rocks cruise ship
Storm Lilian travel chaos as bank holiday flights cancelled