Aircraft and carriers. IAG asks EU more time for Iberia-Air Europa operation
Still doubts about the acquisition of the Spanish airline
International Airlines Group (IAG) has contacted the EU Commission in the last few hours to request more time regarding the acquisition of the air carrier Air Europa by another Spanish company, Iberia (read also the article published by AVIONEWS). The parent company of the flag carrier is trying to get a few weeks (if not months) extra from Brussels in order to refine the final details more precisely. This means that the EU's choice in this regard should be postponed again, at least until next December. Wanting to be even more precise, November 5 is the date set by the Commission to make a final choice regarding the operation involving the two airlines. However, Iag was able to take advantage of the 20 overtime working days available to present accurate documentation on the acquisition, according to media reports in the Iberian country. Iberia would have decided to adhere to Article 10 of the EU Commission regulation on corporate mergers and acquisitions, as emerged in a notification sent a few days ago. The slippage and the extra time would have been motivated by the fact that the same documentation must be prepared in an impeccable way, avoiding any doubts or perplexities. The deal that will lead Air Europa to become an integral part of Iberia will be closed by the end of 2021, as long as Brussels says yes to the dossier. The EU, in particular, fears higher prices and lower quality for passengers. The Commission itself could have already approved the acquisition, preferring however the path of thorough investigations to dispel any doubts. The notification of the agreement arrived in Brussels last May 25.
AVIONEWS - World Aeronautical Press Agency