for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

British Airways-owner buys Spain's Air Europa for 1 bln euros

Nov 4 (Reuters) - British Airways owner IAG said on Monday it had agreed to buy Spanish carrier Air Europa for 1 billion euros ($1.12 billion) in cash as it set its sights on the market in European travel to Latin America.

“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,” Willie Walsh, chief executive of IAG said. ($1 = 0.8951 euros) (Reporting by Yadarisa Shabong in Bengaluru; editing by Patrick Graham)

Breakingviews

Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.


Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up