The Spanish aviation company Iberia, which is part of the British IAG, takes over the Spanish counterpart Air Europa. The deal involves an amount of 1 billion euros.

Through the acquisition, Iberia wants to offer more flights on lucrative routes between Europe and Latin America and the Caribbean. Iberia wants Air Europa to play a leading role on these routes. The Spaniards count on considerable synergy benefits in terms of costs and turnover.

IAG believes that the acquisition will pay off within four years when it comes to return on invested capital. Air Europa will, however, contribute to profit from the outset. The transaction is expected to close in the second half of next year, depending on the usual approvals.

IAG consists of the following trade marks and branches:

• Aer Lingus
• Anisec Luftfahrt
• British Airways
• IAG Cargo
• Iberia
• LEVEL
• Vueling
• Avios Group