The European Commission has launched an in-depth investigation into IAG’s proposed acquisition of Air Europa citing potential competition concerns in the Spanish passenger air transport services market. The Commission’s primary worry is that the acquisition could lead to higher prices or diminished service quality both in domestic and long-haul flights connecting Spain to Europe, the Middle East, as well as North and South America. On January 24, 2024, a Statement of Objections was issued, giving IAG the chance to respond, examine the case, and offer remedies by June 10, 2024. IAG, which comprises airlines including Iberia, Vueling, British Airways, and Aer Lingus, is vying to acquire Air Europa from the Spanish tourism group Globalia. A final decision from the Commission is expected by July 15, 2024. The careful examination of such mergers, especially those with competitive implications, is customary within the European Economic Area to ensure the preservation of effective competition.

Aviation & Aerospace, Legal & Regulatory, Tourism & Travel,Spain, European Economic Area

https://mergersacquisitions.einnews.com/article/707163308/b-N_cW7HYbWCjftv?ref=rss&ecode=Q1vNcweEggLWKz7L