IAG buys Air Europa
Nov 4, 2019, 1:14 am
#1
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IAG buys Air Europa
IAG Buys Air Europa for ?1 Billion
The linked article contains some initial comment on what IAG might do with it.
I see (later) that thee is some discussion of this in the Iberia forum - Iberia (IAG) to adquire Air Europa (SkyTeam) for 1bn€, subject to regulator approval
The linked article contains some initial comment on what IAG might do with it.
I see (later) that thee is some discussion of this in the Iberia forum - Iberia (IAG) to adquire Air Europa (SkyTeam) for 1bn€, subject to regulator approval
Last edited by Philodemus; Nov 4, 2019 at 1:20 am Reason: Add link to Iberia forum
Nov 4, 2019, 1:50 am
#2
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Originally Posted by FT.com
IAG to buy Air Europa as airline group seeks to open up South America
British Airways parent hopes to build Madrid into Europe’s next major airport hub
International Airlines Group, the parent company of British Airways and Spain’s Iberia, has agreed to buy Air Europa for €1bn, as it seeks to open up the South American transatlantic market and turn Madrid into Europe’s next hub airport.
IAG in a statement to the stock exchange on Monday said it had agreed a cash deal for the Spanish airline, which offers domestic and international flights to 69 destinations with its fleet of 66 aircraft, including long-haul routes to the Americas.
The London-based group is betting the deal will establish Madrid as one of Europe’s premier airports, able to rival Amsterdam, Frankfurt, London Heathrow and Paris. It would also open up new routes to Latin America and the Caribbean market, and give IAG a 26 per cent share in the Europe to Latin American market, up from 19 per cent.
The acquisition comes after IAG was thwarted in a previous attempt to spread its wings into South America when the Chilean Supreme Court this year struck down a proposed joint venture with American Airlines and Chile-headquartered Latam.
British Airways parent hopes to build Madrid into Europe’s next major airport hub
International Airlines Group, the parent company of British Airways and Spain’s Iberia, has agreed to buy Air Europa for €1bn, as it seeks to open up the South American transatlantic market and turn Madrid into Europe’s next hub airport.
IAG in a statement to the stock exchange on Monday said it had agreed a cash deal for the Spanish airline, which offers domestic and international flights to 69 destinations with its fleet of 66 aircraft, including long-haul routes to the Americas.
The London-based group is betting the deal will establish Madrid as one of Europe’s premier airports, able to rival Amsterdam, Frankfurt, London Heathrow and Paris. It would also open up new routes to Latin America and the Caribbean market, and give IAG a 26 per cent share in the Europe to Latin American market, up from 19 per cent.
The acquisition comes after IAG was thwarted in a previous attempt to spread its wings into South America when the Chilean Supreme Court this year struck down a proposed joint venture with American Airlines and Chile-headquartered Latam.
Nov 4, 2019, 1:53 am
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Nov 4, 2019, 2:01 am
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Well, Vueling is based out of BCN, whereas both IB and UX are based in MAD. But indeed, IAG will have an ever greater share of the Spanish market.
This piechart is 3 years old, but on this basis, IAG would have the 2nd, 3rd and 5th largest airlines in the Spanish market.
This piechart is 3 years old, but on this basis, IAG would have the 2nd, 3rd and 5th largest airlines in the Spanish market.