Iberia authorized in the acquisition of 20% of Air Europa
The Spanish airline Iberia will acquire 20% of Air Europa, after the approval by SEPI and the bank syndicate, of the loan from Iberia to Air Europa, and whose amount is 100 million euros, equivalent to 20% of the capital of the Globalia airline.
According to the statements made by the president of Iberia, Javier Sánchez-Prieto, the final objective in the medium term is to acquire 100% of the company.
In 6 months, the competition authorities of the countries where Air Europa operates, Germany, Spain and the United Kingdom, will give approval in this regard, to which Sanchez-Prieto hopes there will be no further complications, given that this operation only involves an investment and will have no effect on the management of the airline. The operation will be completed later, in an estimated period of 18 months.
In this way, Sánchez-Prieto reiterates the company's intention to acquire the airline from the Hidalgo family, this being the beginning of what is expected to be a project that will in no way affect Iberia's commitment to move forward in its intention to strengthen the "Hub" distribution center in Madrid.
In addition, Iberia has decided to launch a strong commitment to the United States, to recover profitability, betting on the effective recovery of the company through the Madrid-Washington and Madrid-Dallas routes, in addition to resuming the Madrid-Dallas route again. San Francisco. After the pandemic, Iberia seeks to position itself again in the market as a leading airline and to be a reference center by enhancing the technological experience for its customers.
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