Iberia informs Air Europa creditors that it will abandon its purchase

IAG, the parent company of Iberia, is reportedly considering giving up on the purchase of Air Europa, and is already communicating this to the Hidalgo family’s creditors. Apparently this is due to problems with Brussels in getting it to accept its concessions, according to sources from the company. Preferential.

Iberia’s decision implies, firstly, that it already has 20% of Air Europa and secondly that it must pay compensation of around USD 54 million to the owners of Globalia for withdrawing from the purchase.

The main reason for reaching this stage would be that investing the same price for the purchase and having to give up half of the airline’s business, “makes the operation lose its logic,” the same media outlet points out.

This transaction has also been affected by the scandals surrounding the Begoña Gómez case, pressure from Lufthansa, the Qatari majority in IAG and competition in a product such as business class.

As reported by REPORTUR.usthe future of Air Europa is being decided these days with very different horizons between the two options of integrating into Iberia or continuing alone, depending on what the European Commission decides. (Air Europa and its two options: it would fare with Iberia or continuing alone).