IAG Gets EU Warning Shot Over €400 Million Air Europa Deal [BNN Bloomberg (Canada)]
Ryanair Holdings plc - American Depositary Shares, each representing five Ordinary Shares (RYAAY)
US:NASDAQ Investor Relations:
investor.ryanair.com
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Source: BNN Bloomberg
The European Commission said Friday it fired off a so-called statement of objections warning that the deal could hamper competition on multiple routes within Spain as well as connections with the rest of Europe, the Middle East and the Americas. Domestic routes lacking high-speed train alternatives could be particularly hard hit, the regulator said. “Every year, millions of passengers travel on those routes for a total annual spending of over €3 billion,” the commission said. “Absent suitable remedies, the removal of Air Europa as an independent airline may have negative effects on competition in these already concentrated markets.” While on some national and European routes the pair currently compete head-to-head, the commission said competition on others is “limited” and comes primarily from regional Spanish airlines and low-cost airlines, such as Ryanair Holdings Plc. IAG and Air Europa can now respond to the EU's concerns with an offer to remedy the anticompetitive risks. T
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RYAAY
Analyst Actions
- 4/4/24 - Evercore ISI Group
RYAAY
Sec Filings
- 5/2/24 - Form 6-K
- 5/2/24 - Form 6-K
- 5/1/24 - Form 6-K
- RYAAY's page on the SEC website