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IAG offers concessions to address EU concerns over Air Europa deal

Published 27/02/2024, 14:48
Updated 27/02/2024, 16:02
© Reuters. FILE PHOTO: A Boeing 787-9 Dreamliner of the Air Europa company lands at Gran Canaria airport, in Telde, Gran Canaria, Spain, February 21, 2023. REUTERS/Borja Suarez/File Photo

BRUSSELS (Reuters) - British Airways (LON:ICAG) owner IAG has offered concessions in an attempt to secure EU antitrust approval for its 400 million euro ($433.7 million) bid to buy out Air Europa, a European Commission filing shows.

IAG, which also owns Spanish carrier Iberia, submitted its proposal on Feb. 23, the filing showed without disclosing details.

The EU competition enforcer, which is due to decide on the deal by June 7, is expected to seek feedback from rivals and customers before deciding whether to clear the deal or demand more concessions.

($1 = 0.9223 euros)

Latest comments

IAG should be paying down debt and giving us shareholders some sort of return, not buy an airline that is lagging behind the likes of IBERIA. Take the customer and leave the business to die
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