IAG’s CEO says Air Europa deal may take at least 18 months
2022.04.06 11:25
FILE PHOTO: Passengers wearing face masks stand at an Air Europa customer service booth at Adolfo Suarez Barajas airport amid the coronavirus disease (COVID-19) pandemic in Madrid, Spain, December 15, 2020. REUTERS/Susana Vera
MADRID (Reuters) – Luis Gallego, the Chief Executive of IAG (LON:ICAG), British Airways’ parent company, said on Wednesday a deal over the acquisition of Spanish airline Air Europa may take at least 18 months.
“We have to decide on a calendar to take 100%, but I think it would take minimum 18 months,” Gallego said during an event called ‘Wake Up Spain’, held in Madrid.
The company will also have to secure anti trust approvals in several countries, Gallego said.
IAG has recently granted Air Europa a loan convertible into a 20% stake.
