International Airlines Group buys Air Europa

Read article

Agreement of acquisition

International Airlines Group (IAG) has reached an agreement to acquire an 80% stake in Air Europa for 400 million euros. The acquisition is expected to be completed in the second half of 2023.

The deal will allow IAG, which owns British Airways, Iberia Airlines, Aer Lingus, and Vueling Airlines, to expand its presence in the Spanish market and strengthen its position in Latin America. Air Europa operates flights to various destinations in Latin America, including Brazil, Mexico, and Argentina.

As part of the agreement, Air Europa will be integrated into the Iberia airline brand, although it will maintain its own identity and management team. The remaining 20% stake in Air Europa will continue to be owned by Globalia, the airline's current parent company.

IAG CEO Luis Gallego stated that the acquisition is a "great opportunity" for the company to further develop its presence in the Spanish market and to offer customers more choice and value. The deal is also expected to result in cost and revenue synergies for the group.

Acquisition of Air Europa

The acquisition was initially announced in November 2019, but the COVID-19 pandemic led to the postponement of the deal. However, both parties have now agreed on revised terms, which include a reduced purchase price and a longer payment period.

Latest posts

Wizz Air's longest routes: Insights into operations and challenges

With 947 routes planned for the summer season, Wizz Air Group aims to provide extensive connectivity across its network.

Origins of British Airways: A complex tapestry of aviation history

The journey of British Airways is deeply rooted in the rich history of aviation, tracing back to its predecessor.

When should you be at the airport and what are the advantages of online check-in?

When do I have to be at the airport if I have already checked in online?

About MYFLYRIGHT

MYFLYRIGHT is a legal tech company, specialized in the support of airline passengers affected by flight delays, flight cancellations, denied boarding, delayed or lost luggage and the refund of unused airline tickets. MYFLYRIGHT was founded 2016 in Hamburg, Germany. The company operates out of 3 offices, its headquarter in Hamburg and its branches in Prague, Czech Republic and Zaporizhia, Ukraine. Currently, MYFLYRIGHT employs a team of around 25 people working in Marketing, Operations, Legal, Customer Support and IT. The organization operates across 5 markets – Germany, United Kingdom, Romania, Austria, and Switzerland.

MYFLYRIGHT’s goal is to provide access to justice for all aviation passengers who experience irregularities in their flight transportation. Notably, 75% of all compensation requests submitted by passengers get rejected. Whereas, MYFLYRIGHT is able to successfully execute the applicable customer claims in more than 98% of cases at court.

Check your passenger rights

cancelled

Flight cancellation

Claim up to 600 €*
boarding

Denied boarding

Claim up to 600 €*

*less our commission

Latest posts

Wizz Air's longest routes: Insights into operations and challenges

Origins of British Airways: A complex tapestry of aviation history

When should you be at the airport and what are the advantages of online check-in?

delayed

Flight delay

In case of a 3 hours flight delay at arrival

More Check
cancelled

Flight cancellation

In case of a cancelled flight 14 days before departure

More Check
boarding

Denied boarding

In case of overbooking / denied boarding

More Check
lost

Delayed / Lost luggage

In case of arriving without the luggage

More Check
gate-closed

Ticket refund

In case of a missed / not boarded flight

More Check
Get up to 600 €* in compensation
Check claim for free Check