IAG to buy Air Europa
MADRID-BASED AIR EUROPA will join British Airways and Aer Lingus as a subsidiary of International Airlines Group (IAG) following a €1 billion acquisition, subject to regulatory approval. The Skyteam member is the third-largest Spanish airline, after Iberia and Vueling, both of which are already part of IAG. The group says it wants to be a leader in the “highly attractive Europe to Latin America and Caribbean market” and for Madrid to become a “true rival to Europe’s four largest hubs”, Heathrow, Amsterdam, Frankfurt and Paris Charles de Gaulle. For the short term at least, the Air Europa brand is set to be retained.