British Airways-owner buys Spain’s Air Europa for 1 bln euros

Posted By Tony Sanchez / November 4, 2019 / Airlines / 0 Comments

November 4, 2019

British Airways owner IAG said on Monday it had agreed to buy Spanish carrier Air Europa for 1 billion euros ($1.12 billion) in cash as it set its sights on the market in European travel to Latin America.

“Acquiring Air Europa would add a new competitive, cost effective airline to IAG, consolidating Madrid as a leading European hub and resulting in IAG achieving South Atlantic leadership,” Willie Walsh, chief executive of IAG said.

Source: (Reuters)

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