This was announced in Madrid on Thursday evening by the parent company of British Airways, Iberia, Vueling, Aer Lingus and Level. IAG has held 20 percent of Air Europa’s capital since last summer.
“The deal is subject to regulatory and other approvals, which can take about 18 months,” he said. Among other things, Brussels needs to accept the deal. According to IAG, the first 200 million euros will be transferred to Grupo Globalia after the deal is finally approved.
The Air Europa brand will continue to exist under the management of Iberia. The group stressed that the agreement is of strategic importance for the future of IAG. It will enable the Group to capitalize on growth opportunities in the Latin American and Caribbean markets and increase its links with Asia.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
