International Airlines Group (IAG), the owner of Aer Lingus, British Airways and Iberia, has offered assurances as it seeks antitrust approval from the European Union to acquire the entirety of Spanish low-cost airline Air Europa.
IAG has expressed its commitment to resolving any concerns raised by the European Commission and is prepared to offer a comprehensive set of remedies to address these concerns. The company aims to close the transaction in 2024.
The proposed acquisition of Air Europa by IAG is expected to bring benefits to consumers, the Spanish economy, and enhance Madrid’s competitiveness in comparison to other European hubs. IAG CEO Luis Gallego emphasized the positive impact this deal could have in a statement.
Furthermore, IAG will likely explore potential remedies with various competitors, both from the European Union and outside, in order to address any competition concerns that may arise. These remedies may involve surrendering airport slots and providing access to loyalty programmes, which are common practices during airline mergers.
Air Europa, originally co founded by Martin O’Regan in 1979, is the third-largest Spanish airline after Iberia and Vueling, is headquartered in Llucmajor, Mallorca, Spain abd has its main hub at Adolfo Suárez Madrid–Barajas Airport with focus city operations at Palma de Mallorca Airport and Tenerife North Airport. It is a member of Skyteam.
