IAG acquires Air Europa in €1bn deal

IAG acquires Air Europa in €1bn deal

International Airlines Group (IAG) has announced it will buy Madrid-based Air Europa for €1 billion. The Spanish airline will be acquired by IAG subsidiary Iberia, with the group stating that the brand “will initially be retained and the company will remain as a standalone profit centre within Iberia run by Iberia CEO Luis Gallego”. IAG said that the move would transform its Madrid hub “into a true rival to Europe’s four largest hubs: Amsterdam, Frankfurt,…

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