May 7, 2020 / 7:15 AM / a month ago

IAG's acquisition of Air Europa still ongoing, CEO says

FILE PHOTO: Air Europa Boeing 737-86Q plane EC-III approaches Riga International Airport in Riga, Latvia January 17, 2020. REUTERS/Ints Kalnins

LONDON (Reuters) - The CEO of British Airways-owner IAG (ICAG.L) said on Thursday the process for it to acquire Spanish airline Air Europa was ongoing, although he noted that the agreement between the pair did contain a price adjustment mechanism.

There has been speculation that because of the coronavirus pandemic IAG could look to walk away from the 1 billion euro acquisition it announced last November or try to negotiate a lower price.

“We still have to go through the full competition regulatory approval process. And that is ongoing. So at this point, the process continues,” IAG CEO Willie Walsh told reporters.

He also said he supported measures such as temperature checks at airports and the mandatory wearing of face masks to help air travel restart in the wake of the pandemic.

Reporting by Sarah Young; editing by Michael Holden

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