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Iberia to Strengthen Presence in Latin America

MIAMI – Since before the COVID-19 pandemic hit aviation last March, it has been no secret that International Airline Group (IAG) had ambitions of increasing its market share to South America.

On Wednesday, January 20, Javier Sánchez-Prieto, Iberia’s CEO, and Javier Hidalgo, Air Europa’s CEO, signed the agreement for Iberia’s (IB) acquisition of Air Europa (UX) for the heavily reduced fee of approximately US$610m (€500m).

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What Does This Mean for IAG?

This is a significant acquisition as a whole for IAG. Before the pandemic, European carriers held approximately 75% of the market share on routes between read more ⇒

Source:: “Airways Magazine”

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