IAG set to acquire Air Europa for $1.1 billion

Daily Newsletter | November 4, 2019
International Airlines Group (IAG), the parent company of Aer Lingus, British Airways, Iberia and low-cost carriers like LEVEL and Vueling, has announced that the group is set to acquire Air Europa, a Madrid-Barajas International Airport (MAD) based airline, for $1.1 billion (€1 billion). The move, pending approval by regulatory authorities, would help IAG to create a mega-hub in Madrid to compete with other major hubs in Europe.
As the Koninklijke Luchtmacht, the Dutch Air Force, was receiving its first operational F-35A fighter jet in Leeuwarden Air Base, on October 31, the whole country had eyes on the new aircraft. However, not everything went as expected.
Europe’s favorite airline, as Ryanair calls itself, has presented its H1 FY2020 financial results, including a slight dip in operating profit. The low-cost carrier has provided an update on 737 MAX deliveries and revised growth guidance in FY2021, as the aforementioned Boeing narrow-bodies are yet to be approved by regulators worldwide and have put pressure on the airline’s growth perspective.
Philippines’ low-cost carrier Cebu Pacific Air signed a firm order for 16 Airbus A330neo wide-body aircraft. At list prices, the contract is worth $4.8 billion.
Vietjet plans to further bolster its all Airbus A320 Family aircraft fleet. Under a deal signed directly with the manufacturer, the Vietnamese airline is to add 20 Airbus A321XRL planes ‒ five of which are conversions from its previous A321neo order.
AeroTime News

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