A new setback in the arduous process of purchase of Air Europa by International Airlines Group (IAG), parent company of Iberia. The European Commission has informed the airline holding company that it has “stopped the clock” in its analysis of the operation (Air Europa causes the biggest stability crisis for the Spanish government).
Iberia sources have informed that the “stop the clock” instrument “is commonly used in this type of process and serves to gather additional information without consuming the regulated time”.
IAG will now work to deliver to the Directorate General for Competition of the European Union “as soon as possible” all the requested data in its possession. However, everything seems to indicate that this decision will mean a delay in the EU authorities’ pronouncement, initially scheduled for June or July (Iberia-Air Europa: the EU’s opinion will have to wait).
“IAG’s wish is that the European Commission authorizes the purchase of the airline with all the guarantees. The operation will allow to combine the strength of Iberia and Air Europa in Spain, which will bring significant benefits for consumers, for the Madrid-Barajas hub and for the competitiveness of our country’s economy”, they remarked.
Source: Reportur.com
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