Airline Group acquires Air Europe for €1 billion
7 years ago(FILES) In this file photo taken on June 06, 2016 An airplane of the Spanish low-cost airline Air Europa prepares to land at Barcelona's airport in El Prat de Llobregat on June 6, 2016. - British Airways owner IAG agreed November 4, 2019 to buy Spain's Air Europa for 1.0 billion euros to expand routes to Latin America and the Caribbean, boosting Madrid as a key hub. The London-listed company said in a statement that it has signed a transaction agreement with Air Europa owner Globalia in a deal worth the equivalent of $1.2 billion that it aims to complete in the second half of next year. (Photo by Josep LAGO / AFP)
The International Airlines Group (IAG), yesterday, signed an agreement to purchase Spanish carrier, Air Europa, for €1 billion (N401 billion). The deal was announced by the Group, Tuesday, and if the relevant approvals go ahead, this would be the group’s third Spanish airline behind Iberia and Vueling.