Iberia presented today before the European Commission a new package of «remedies» to gain Brussels’ approval for the purchase of Air Europa.
Today was the deadline for doing so, which means that with the presentation, the decision deadline for the operation is automatically extended by 15 working days, plus an additional 10 working days for the Commission to study the new concessions proposed by the IAG airline, according to today’s publication by the Spanish newspaper La Razón.
Iberia did not publicly detail the new routes and frequencies that it would cede to its competitors, but the previous package included the distribution of up to 40% of those operated by Air Europa in 2023. Now, they assure, «it includes improvements resulting from the constructive dialogue we have been maintaining with the European Commission with the aim of ensuring that the purchase of Air Europa is carried out with all guarantees for consumers.»
The company had indicated that Avianca, Binter, Iberojet, Ryanair, Volotea, and World2Fly are the airlines interested in taking over those frequencies of Air Europa, with proportionality handled by the European Commission.
IAG, with a new shareholder
In parallel, it was revealed today that the investment fund Helikon entered the capital of IAG by acquiring 3.059% of the shares, representing an investment of over 300 million euros at the closing price on June 7.
This makes it the third largest shareholder behind Qatar’s sovereign wealth fund (25.1%) and Capital Group (5.006%).
