July 22, 2020 / 8:29 AM / 19 days ago

Spain's Industry Minister says it is up to Iberia, Air Europa to move on with merger

FILE PHOTO: Spain's new Industry Minister Reyes Maroto reacts during her taking over ceremony at the Ministry of Economy in Madrid, Spain, June 7, 2018. REUTERS/Sergio Perez/File Photo

MADRID (Reuters) - Spain’s Industry minister Reyes Maroto said on Wednesday that IAG member Iberia and Spain’s Air Europa should look into the advantages and disadvantages of their plan to merge that was announced before coronavirus-hit airlines worldwide.

“It is up to them to assess pros and cons (...) we will accompany them”, she said.

In June, the Chief Executive Officer of International Consolidated Airlines Group (ICAG.L) said in an interview with newspaper El Pais that the company was reviewing its planned 1 billion euro (906.56 million pounds) acquisition of Air Europa because of the harsh economic climate caused by COVID-19.

Reporting by Emma Pinedo; Editing by Jesus Aguado and Ingrid Melander

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