Share Prices & Company Research

Market News

01 Aug 2024 | 17:04

IAG abandons pursuit of Air Europa

(Sharecast News) - British Airways and Iberia owner IAG said on Thursday that it had terminated its agreement to buy Air Europa as it would not be in the best interests of shareholders "in the current regulatory environment". Under the terms of the agreement, IAG - which will continue to hold a 20% minority stake in Air Europa - will pay Globalia €50m as a break fee.

Chief executive Luis Gallego said: "We believe this decision is in the best interests of our shareholders. IAG remains committed to its strategy, including competing effectively from its Madrid hub. This is a strategy which is delivering strong results.

"We will continue to develop our presence in Madrid so that the hub can develop as a rival to Europe's largest hub airports.''



Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new portfolio or transferring your portfolio from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.