Air Europa faces with "full security" the new stage after ruling out the merger with IAG

Aug. 2 () –

Air Europa will face the new stage that begins this Friday with “total determination and complete confidence”, after IAG decided to break the agreement to acquire the airline from Globalia given the strict requirements of the European Commission to approve the operation.

Thus, Air Europa, which had been negotiating its incorporation into Iberia’s parent company since 2019, with several different agreements, is confident that it has a “sustainable and encouraging future” and maintains its commitment to quality service and to being a benchmark in the aeronautical industry.

According to a statement issued by the airline on Friday, Air Europa believes that its business project is “solid and viable”, which allows it to “face a sustainable long-term future” regardless of the multinational’s decision.

Despite market instability and delays in aircraft deliveries, Air Europa is focused on continuing with its Strategic Plan 2024-2026, which lays the foundations for its growth and “ensures the consolidation of the airline in the Barajas hub”, as well as its role in connectivity between Europe and America.

This plan guarantees “the dynamism, strengthening and solvency of the airline,” the statement said, adding that it is based on “the good financial results with which Air Europa closed the last fiscal year and on the positive trend of the first half of this year.”

In the six months of 2024, Air Europa’s operating revenue has reached 1,364 million euros, 6.5% higher than in the same period of the previous year. The company will operate from August with a fleet of 53 aircraft, once it receives a new Boeing 787-9.

As compensation for the breach of the agreement, Globalia will receive compensation of 50 million euros from IAG. The aeronautical holding company had promised the European Commission to cede up to 52% of the routes operated by Air Europa, but the latter still had doubts about whether the operation would affect consumers by reducing competition. For this reason, on Thursday it announced its withdrawal from the agreement.