BA owner IAG to scrap plan to buy Spanish carrier Air Europa
by Joanna Partridge from on (#5T2GP)
Proposed acquisition was being investigated by competition authorities in UK and EU
The British Airways and Iberia owner, International Airlines Group , is to scrap its plan to buy the Spanish airline Air Europa, a deal that was being investigated by competition authorities in the UK and the EU.
The move comes more than two years after International Airlines Group (IAG) - under its former chief executive, Willie Walsh - first announced plans to buy the carrier from the Spanish tourism group Globalia for 1bn (850m) in November 2019, before renegotiating the deal at half the price after Covid-19 closed down most international travel, prompting huge losses at airlines.
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