IAG has submitted a new remedy package to the European Commission for approval of Iberia’s bid to take full control of Air Europa.
The new package includes improvements based on dialogue with the European Commission, extending the decision deadline to July 29.
Details of the adjustments were not disclosed, but IAG previously offered to offload up to 40pc of Air Europa’s frequencies and ensure no routes operated exclusively by Air Europa and Iberia.
Concerns are raised about the impact on Spain’s connectivity, and this is IAG’s second attempt to acquire Air Europa; meanwhile, investment hedge fund Helikon bought 3.05pc of IAG’s shares, becoming the third-largest shareholder.
