BA owner IAG cuts Air Europa deal to 500 mln euros
BA and Iberia owner IAG has agreed to buy Spain’s Air Europa for E500m under an amended deal, the companies said Tuesday. Under the amended deal, “the parties have agreed that the amount to be paid by Iberia for Air Europa will be reduced from an equity value of E1b to E500m the statement added. Payment will be deferred until the sixth anniversary of the acquisition’s completion, according to the statement. After originally agreeing to buy Air Europa for E1b in November 2019, IAG has been pushing to cut the price as the coronavirus pandemic threw the airline industry into crisis. International travel restrictions have brought the global transport sector to a grinding halt, pushing several airlines to rely on state aid.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2021-01-20/oneworld/ba-owner-iag-cuts-air-europa-deal-to-500-mln-euros
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BA owner IAG cuts Air Europa deal to 500 mln euros
BA and Iberia owner IAG has agreed to buy Spain’s Air Europa for E500m under an amended deal, the companies said Tuesday. Under the amended deal, “the parties have agreed that the amount to be paid by Iberia for Air Europa will be reduced from an equity value of E1b to E500m the statement added. Payment will be deferred until the sixth anniversary of the acquisition’s completion, according to the statement. After originally agreeing to buy Air Europa for E1b in November 2019, IAG has been pushing to cut the price as the coronavirus pandemic threw the airline industry into crisis. International travel restrictions have brought the global transport sector to a grinding halt, pushing several airlines to rely on state aid.<br/>
