Iberia initiated the purchase of Air Europa in 2019 and four years have passed without being able to finalize its purchase. Although the decision and the remedies imposed by the European Union’s competition authorities are still pending, Luis Gallego, CEO of IAG, hopes that the transaction will be completed before 2025.
Gallego told Expansión that “we will go to the last quarter of 2024”, but he will do what is necessary to “accelerate the operation as much as possible”, as reported by Preferente.
IAG, parent company of Iberia and Vueling, already has 20% of Air Europa under its control after injecting a loan of 100 million euros, it lacks the remaining 80%, for which it will have to pay close to another 400 million euros.
As REPORTUR.us reported, Iberia and Air Europa are awaiting the European Commission’s decision on the authorization of their merger, as well as the conditions, since Air France, Lufthansa and Ryanair will not challenge this integration as long as the Spanish airlines cede some routes to them (Iberia-Air Europa: rivals smooth the purchase by not challenging it).