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€1bn bid made for Air Europa

THE owner of British Airways, IAG, has put in a €1bn bid for Latin America specialist Air Europa. And, should the deal go through, the Spain-based company will join a stable of airlines, including the UK flag-carrier, as well as Iberia, Level, Vueling and Aer Lingus.

The company said the idea behind the deal was to create a hub in Madrid, which could match the likes of London Heathrow and Amsterdam Schiphol.

“Acquiring Air Europa would add a new competitive, cost-effective airline to IAG, consolidating Madrid as a leading European hub,” said IAG chief executive Willie Walsh. “It would result in IAG achieving South Atlantic leadership, and, therefore, generating additional, financial value for our shareholders.”

He added: “IAG has a strong track record of successful acquisitions, most recently with the acquisition of Aer Lingus in 2015, and we are convinced Air Europa presents a strong strategic, fit for the group.”

Air Europa has a network of 69 destinations, the majority in Latin America.

 

Short URL: http://www.canarianweekly.com/?p=50685

Posted by on Nov 8 2019. Filed under Local News. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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