financetom
Business
financetom
/
Business
/
IAG offers remedies to EU over Air Europa deal
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
IAG offers remedies to EU over Air Europa deal
Jun 11, 2024 6:03 AM

BRUSSELS (Reuters) - British Airways owner IAG has again offered remedies to the European Commission aimed at securing EU approval of its takeover of Spain's Air Europa.

"We submitted a new remedy package with some adjustments compared to the previous one," IAG said in an email.

"It includes improvements that have come from the constructive dialogue we have been maintaining with the European Commission, with the aim of ensuring that the acquisition of Air Europa is carried out with all guarantees for consumers."

IAG, which owns Spanish airline Iberia, had proposed remedies in February which the EU's competition enforcer deemed insufficient.

The latest set of concessions will see Air Europa cede 52% of its 2023 flights to rivals and includes the names of competitors that have signed memoranda of understanding with IAG, a person familiar with the matter said.

The Commission, which usually seeks feedback from rivals and customers before deciding whether to accept remedies, has extended the deadline for its decision to Aug. 20.

IAG last month said it was in talks with Avianca, Binter, Iberojet, Ryanair, Volotea, and World2Fly to cede short-haul and long-haul routes to its rivals.

IAG is paying 400 million euros ($429 million) to Spanish tourism company Globalia for the 80% of Air Europa it does not own.

($1 = 0.9321 euros)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
OneSpaWorld Q3 Adjusted Earnings, Revenue Rise; 2025 Revenue Outlook Narrowed
OneSpaWorld Q3 Adjusted Earnings, Revenue Rise; 2025 Revenue Outlook Narrowed
Oct 29, 2025
08:07 AM EDT, 10/29/2025 (MT Newswires) -- OneSpaWorld ( OSW ) reported Q3 adjusted net income on Wednesday of $0.29 per diluted share, up from $0.26 a year earlier. Analysts polled by FactSet expected $0.29 per share. Total revenue for the quarter ended Sept. 30 was $258.5 million, up from $241.7 million a year earlier. Analysts surveyed by FactSet expected...
Electronics distributor Avnet's Q1 profit beats on Farnell unit boost
Electronics distributor Avnet's Q1 profit beats on Farnell unit boost
Oct 29, 2025
Overview * Avnet fiscal Q1 sales of $5.9 bln beat analyst expectations * Adjusted EPS for fiscal Q1 beats consensus at $0.84 * Company repurchased $138 mln in shares, 3.2% of shares outstanding Outlook * Avnet expects Q2 fiscal 2026 sales between $5.85 bln and $6.15 bln * Company projects Q2 adjusted diluted EPS of $0.90 to $1.00 * Avnet...
Gates Industrial misses Q3 sales estimates, announces $300 mln buyback
Gates Industrial misses Q3 sales estimates, announces $300 mln buyback
Oct 29, 2025
Overview * Gates Industrial ( GTES ) Q3 net sales up 3% yr/yr, missing analyst expectations * Adjusted EPS beats analyst estimates for Q3 2025 * Company announces $300 mln share repurchase authorization Outlook * Gates Industrial ( GTES ) raises 2025 adjusted EPS guidance towards high end of prior range * Company expects 2025 core sales growth of 0.5%...
Canadian power producer Capital Power Q3 net income falls
Canadian power producer Capital Power Q3 net income falls
Oct 29, 2025
Overview * Capital Power ( CPXWF ) Q3 net income declines to C$153 mln * Adjusted EBITDA for Q3 was C$477 mln * Company commissioned 170 MW of battery storage in Ontario Outlook * Capital Power ( CPXWF ) reaffirms 2025 guidance for Adjusted EBITDA and AFFO * Company expects 40% increase in outage days for Canada flexible generation in...
Copyright 2023-2026 - www.financetom.com All Rights Reserved