Iberia will finally buy Air Europa for 500 million euros, after the Boards of Directors of the former and of IAG, the holding company to which it belongs, validated negotiations with the latter, as published this Friday by El Confidencial.
Just over a year after Iberia negotiated a billion dollar purchase of Air Europa, and after the outbreak of the pandemic, which has turned the tourism industry upside down, both parties ultimately agree that the purchase price will remain halved and payment will be made in 2026.
According to the aforementioned newspaper, which does not cite the sources, the operation is pending the agreement of the manager of the rescue fund for solvent strategic companies affected by the pandemic, managed by the Sociedad Estatal de Participaciones Industriales (SEPI) to abandon of the appointment of the two directors corresponding with him for the loan granted to the subsidiary Globalia for 475 million.
The agreement, about which neither Iberia nor Air Europa have wanted to comment on Efe, was reached at the meetings held by the boards of directors of Iberia and IAG on Thursday.