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British Airways and Iberia parent company buys low-cost Air Europa

Acquired company is one of those interested in operating in the Brazilian domestic market

a airplane from Air Europa
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  • Currently, Air Europa has 66 aircraft and operates in 69 destinations, both inside and outside Spain;
  • IAG, in turn, is one of the largest groups in the industry, with 268 destinations and 573 aircraft, according to the Associated Press

According to the Associated Press and Valor Econômico newspaper, the International Consolidated Airlines Group (IAG), the parent company of British Airways and Iberia, has just closed the acquisition of Spanish airline Air Europa for 1 billion euros. Payment will be made all at once.

Air Europa is one of those interested in operating in the Brazilian domestic market.

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The deal has yet to pass through the regulatory authorities of the countries where Air Europa operates, but the purchase is expected to be completed by the end of 2020.

With the acquisition, IAG expects the Madrid base to be able to compete with some of Europe’s major air hubs: Amsterdam, Frankfurt, London and Paris.

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Currently, Air Europa has 66 aircraft and operates in 69 destinations, both inside and outside Spain. IAG, in turn, is one of the largest groups in the industry, with 268 destinations and 573 aircraft, according to the Associated Press.