IAG has abandoned its attempt to acquire the remaining 80pc stake in Air Europa due to the European Commission’s demand for greater concessions to competition.
The decision was made to protect the interests of IAG shareholders and came after the European Commission raised concerns about consumer harm if the merger proceeded.
IAG CEO Luis Gallego stated that the operation had lost its meaning and that the company remains committed to investing in Spain and growing Iberia at Madrid airport.
IAG is now exploring other opportunities, such as the possible acquisition of the Portuguese company TAP, while Air Europa is now free to explore potential deals with other airlines like Lufthansa or Air France.
