Iberia CCO says airline now more pessimistic about Air Europa deal
Reuters
Published Nov 25, 2021 03:06PM ET
By Clara-Laeila Laudette
MADRID (Reuters) -Iberia airline's chief commercial officer said on Thursday the Spain-based company was now more pessimistic than optimistic about the acquisition of its rival Air Europa after the latest regulatory setback in the half-billion-euro takeover bid.
"We want to keep pushing for this, but the situation has grown ever more complicated," Iberia CCO Maria Jesus Lopez said at an event on the future of aviation held in Madrid.
Britain's Competition and Markets Authority earlier this week said it would examine whether the 500 million euro ($560.35 million) transaction would harm competition in the UK, setting Jan. 19 as the deadline for its initial decision.
IAG said that it would cooperate with the CMA's investigation.
In a previous attempt to secure the deal, British Airways and Iberia owner International Airlines Group (LON:ICAG) offered concessions to address EU antitrust concerns.
The EU executive, which has not provided details in line with its policy, has extended its deadline for a decision on the deal to Jan. 4, casting doubts on whether the bid will go through.
($1 = 0.8923 euros)
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.