HomeAir LinePurchase of Air Europa by Iberia: Brussels “for the clock”

Purchase of Air Europa by Iberia: Brussels “for the clock”

New setback in the arduous purchase process of Air Europa by International Airlines Group (IAG), parent company of Iberia. The European Commission has informed the airline holding company that it has “stopped the clock” in its analysis of the operation (Iberia-Air Europa: possible veto if there are no more transfers).

Iberia sources explain to Preferential that the “stop the clock” instrument “is commonly used in this type of process and serves to collect additional information without consuming the regulated time.”

IAG will now work to deliver to the European Union’s Directorate General for Competition “as soon as possible” all the requested data in its possession. However, everything seems to indicate that this decision will mean a delay in the ruling by the community authorities, initially scheduled for the months of June or July (Iberia-Air Europa: the EU opinion will have to wait).

“IAG’s wish is that the European Commission authorizes the purchase of the airline with all guarantees. The operation will allow the strength of Iberia and Air Europa to be combined in Spain, which will bring important benefits for consumers, for the Madrid-Barajas hub and for the competitiveness of our country’s economy,” they highlight.

Source: Preferente

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