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IAG Moves on Purchase of Air Europa at Discounted Price

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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… (www.ainonline.com) More...

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