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Iberia CCO says airline now more pessimistic about Air Europa deal -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: Iberia and Air Europa planes parked at Adolfo Suarez Barajas airport throughout the COVID-19 pandemic in Madrid, Spain, December 15, 2020. REUTERS/Susana Vera/File Photograph

By Clara-Laeila Laudette

MADRID (Reuters) -Iberia airline’s chief industrial officer mentioned on Thursday the Spain-based firm was now extra pessimistic than optimistic in regards to the acquisition of its rival Air Europa after the newest regulatory setback within the half-billion-euro takeover bid.

“We wish to hold pushing for this, however the state of affairs has grown ever extra sophisticated,” Iberia CCO Maria Jesus Lopez mentioned at an occasion on the way forward for aviation held in Madrid.

Britain’s Competitors and Markets Authority earlier this week mentioned it will look at whether or not the five hundred million euro ($560.35 million) transaction would hurt competitors within the UK, setting Jan. 19 because the deadline for its preliminary choice.

IAG mentioned that it will cooperate with the CMA’s investigation.

In a earlier try to safe the deal, British Airways and Iberia proprietor Worldwide Airways Group (LON:) supplied concessions to deal with EU antitrust considerations.

The EU government, which has not supplied particulars consistent with its coverage, has prolonged its deadline for a call on the deal to Jan. 4, casting doubts on whether or not the bid will undergo.

($1 = 0.8923 euros)

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