IAG seeks to halve price of Air Europa acquisition, Cinco Dias says

IAG is close an agreement to halve the price of its planned E1b acquisition of Spanish rival Air Europa, newspaper Cinco Dias reported on Tuesday. Air Europa’s price tag would be lowered to E500m to 600m, the newspaper said. The new terms of deal could be announced this week, Cinco Dias added. With the acquisition of Air Europa, IAG intends to increase its routes to Latin America and the Caribbean. Since the deal was announced in November, the airline industry has been battling its biggest ever crisis due the impact from the COVID-19 crisis.<br/>