IAG axes take-over of Air Europa

On 1 August 2024, the International Airline Group (IAG) announced it has decided to terminate its acquisition plan of Air Europa. The airline group is citing the "current regulatory environment" as a reason for the cancellation. According to various news outlets, the European Commission was said to be coming out against the take-over in the coming weeks.

IAG and Air Europa have been trying to hook-up for almost four years, with a first attempt done in 2020. In December 2021, that deal was cancelled due to the pandemic but left IAG with 20% of the shares in Air Europa. In February 2023, IAG announced it would acquire the remaining 80% shares from Air Europa-owner Globalia.

Photo by Anton Homma.