Air Europa Boeing 787 Dream Liner

The acquisition is scheduled to be effected in the second half of next year.

09-11-2019EFE

At a meeting of market analysts on Friday, the president of Iberia, Luis Gallego, explained that the acquisition of Air Europa by IAG would provide "complementary" destinations to those which Iberia already operates. These would be in the three markets that the two airlines focus on - the domestic Spanish market, Europe and South America.

Gallego suggested that the acquisition of Air Europa would not entail "a significant change". As the international air transport market is "highly competitive", he appeared to imply that there wouldn't be a rationalisation in terms of routes or personnel. With regard to the domestic market, IAG's Iberia and Vueling plus Air Europa currently operate 66% of Spanish routes.

The Sepla pilots union at Iberia believes that the acquisition will be a positive factor in enabling expansion and consolidation. It would also mean that there is no loss of market share for Latin American routes. As for employment, Ignacio Melero of Sepla said at the meeting that he was confident that the acquisition will bring "more opportunities than uncertainties" for pilots with both airlines.

The acquisition, if it is given the all-clear by Spanish and European competition authorities, is scheduled to be effected in the second half of 2020.

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