IAG Group, which owns several airlines, including British Airways, has announced the acquisition of the Spanish company Air Europa for €1 billion, a transaction that will expand its presence in Spain, where IAG already owns the national carrier Iberia and the low-cost operator Vueling.
Air Europa serves 69 domestic and international destinations, including Europe and long-haul routes in Latin America, the USA, the Caribbean, and North Africa.
The Spanish company recorded a turnover of €2.1 billion and an operating profit of €100 million last year.
Also in 2018, Air Europa transported 11.8 million passengers with a fleet of 66 aircraft.
Source: Economica
Frequently Asked Questions
What is the value of the transaction between IAG and Air Europa?
The transaction value is €1 billion, the amount paid by the IAG group to acquire the Spanish operator.
Which other airlines does the IAG group already own in Spain?
In Spain, the IAG group already owns the national carrier Iberia and the low-cost operator Vueling.
How many aircraft are in the Air Europa fleet?
At the time of the transaction, Air Europa operated a fleet consisting of 66 aircraft.