British Airways owner buys Air Europa Spain

Nabanita Dutta

News Editor
Image Credit: shortpedia

British Airways owner IAG is all set to buy Spanish carrier Air Europa for 1 billion Euros in cash. IAG is aiming on the Latin American markets and acquiring Air Europa would add a new competitive and cost-effective airline in their kitty. Madrid will become a hub in the European regions which might help IAG to achieve south Atlantic leadership as a result, according to the CEO of IAG Willie Walsh.