The European Commission has raised concerns about the proposed acquisition of Air Europa by IAG International Airlines Group, citing potential restrictions on competition in the market for passenger air transport services in Spain.
IAG is seeking to acquire the remaining 80pc of Air Europa from parent company Globalia for €400m.
The Commission is conducting an in-depth investigation that could impact Spanish domestic routes, short-haul routes within Europe and the Middle East, and long-haul routes to North and South America.
IAG has the opportunity to address the EC’s concerns by submitting remedies and may need to divest up to 40pc of Air Europa’s flights to other airlines by 2023 to gain approval.
