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IAG Moves on Purchase of Air Europa at Discounted Price

British Airways and Iberia parent International Airlines Group (IAG) is moving ahead with the planned acquisition of Air Europa in spite of Covid-19, though the pandemic and the collapse in air travel has cut the purchase price in half. Iberia—which will buy Air Europa on behalf of IAG—will pay only €500 million ($607 million) for its Spanish rival, down from the €1 billion in cash to which the parties agreed when they announced the deal in November 2019. In addition, Iberia will defer payment… ( More...

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