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  • British Airways owner I E G is buying Spain's Air Europa.

  • The deal is valued at just over $600 million a price slashed in half by the past years travel slump.

  • Under the amended agreement, the money won't have to be paid until the sixth anniversary off the acquisition.

  • Air Europa has been supported by state backed loans during the recent travel turmoil.

  • Over the year I A G had confirmed an intention to buy the airline, but it too was struggling with pinched finances.

  • The two have re negotiated the deal.

  • As a result, I A G boss Luis Gallego hopes the tie up will boost its Madrid hub with new services to Latin America.

  • It's also intended to generate cost savings.

  • I E G shares were up around 1% in early trade Wednesday.

British Airways owner I E G is buying Spain's Air Europa.

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B1 europa owner deal buying air acquisition

BA-owner IAG buying Air Europa in cut-price deal

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    林宜悉 posted on 2021/01/20
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