IAG International Airlines Group has announced its decision to scrap its agreement with Globalia to acquire the remaining 80% of Air Europa (UX, Palma de Mallorca) for EUR400 million euros (USD432 million) through its subsidiary Iberia (IB, Madrid Barajas).

In a statement, IAG’s board of directors concluded that in the current regulatory environment it would not be in the best interests of shareholders to proceed with the transaction. As a consequence of the termination, the Iberia and British…

Source: ch aviation
Read more: IAG terminates acquisition of Spain’s Air Europa