Share Prices & Company Research

Market News

04 Nov 2019 | 07:36

IAG's Iberia agrees to acquire Air Europa for €1bn

British Airways owner International Consolidated Airlines said its subsidiary Iberia had agreed to acquire Air Europa for €1bn. The acquisition would offer 'significant' synergy potential in terms of cost and revenue, the company said. It also would be earnings-per-share accretive in the first full year and accretive to IAG's return on invested capital by the fourth year after completion, it added. Completion was expected to take place in the second half of 2020 following receipt of relevant approvals. 'Acquiring Air Europa would add a new competitive, cost effective airline to IAG, consolidating Madrid as a leading European hub and resulting in IAG achieving South Atlantic leadership, therefore generating additional financial value for our shareholders,' Willie Walsh, chief executive of IAG.

Story provided by StockMarketWire.com
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account 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.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.