EU antitrust regulators warn IAG, Air Europa deal may reduce competition [Reuters]
INTL CONSL AIRLNS S/ADR (ICAGY)
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Source: Reuters
The European Commission singled out the impact on Spanish domestic routes and short-haul and long-haul routes in a statement of objections to the companies, confirming a Reuters earlier this month. "The Commission is concerned that customers may face increased prices and/or decreased quality of services after the transaction," the EU competition watchdog said in a statement. IAG, which also owns Spanish carrier Iberia, is prepared to give up more than 40% of Air Europa's 2023 flights to a rival to address the European Commission's concerns, a person with direct knowledge of the matter said. The carrier is ready to give feeder traffic, slots, planes, crew, maintenance, ground handling and existing customer bookings on all divested routes to rivals, the source said. Coming soon: Get the latest news and expert analysis about the state of the global economy with Reuters Econ World. Sign up Reporting by Foo Yun Chee; Editing by Sudip Kar-Gupta Our Standards:
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News
- La Comisión envía un pliego de cargos sobre la propuesta de adquisición de Air Europa por IAGPR Web
- EU antitrust regulators warn IAG, Air Europa deal may reduce competition [Reuters]Reuters
- Lufthansa offers concessions to gain EU nod on ITA takeover [Yahoo! Finance]Yahoo! Finance
- Exclusive: EU regulators have not sought feedback on IAG's Air Europa deal, sources say [Reuters]Reuters
- British Airways-owner IAG mulls dividend payout this year, Bloomberg News reports [Reuters]Reuters