IAG Eyes Air Europa

摘要

IN A bid to transform its Madrid hub, Iberia and Vueling parent company IAG intends to buy Spain's third-largest airline for a cash price of €1bn (£860m). The airline group states the purchase of Air Europa will "re-establish" it as a leader in the competitive Latin American and Caribbean markets. IAG believes acquiring the Spanish carrier - and likely placing it under Iberia - will transform its Madrid base into a "true rival" to Europe's four largest hubs: Amsterdam/ Schiphol, Frankfurt, London/Heathrow and Paris/Charles de Gaulle. Willie Walsh, chief executive of IAG, stated: "Acquiring Air Europa would add a new competitive, cost-effective airline to IAG, consolidating Madrid as a leading European hub and resulting in IAG achieving South Atlantic leadership, generating additional financial value for our shareholders." In 2018, Air Europa generated a revenue of €2.1bn (£1.8bn) and an operating profit of €100m (£85m). The carrier currently operates a fleet of 63 aircraft, including 20 Boeing 737s and 14 787 Dreamliners. It also has 20 737 MAX 8s on order.