EU antitrust regulators send statement of objections to IAG (IAG LN) on Air Europa deal and concerned that proposed takeover could reduce competition, according to Reuters sources
- Aim is to ensure that IAG/Air Europa deal does not result in increased prices or lower quality of services.
- Plans to offer more than 40% of Air Europa's 2023 flights to rivals to address EU concern.
- IAG will double capacity to be divested compared with remedy package in previous attempt to acquire Air Europa.
- IAG is ready to cede slots in most in-demand schedules.
- IAG offers to give feeder traffic, slots, planes, crew, maintenance, ground handling, customer bookings on all divested routes to rivals.
- IAG to offer rivals acquiring its long haul routes access to feeder traffic in Europe.
26 Apr 2024 - 18:15- Equities- Source: Newswires
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