(CercleFinance.com) – The European Commission has opened an in-depth investigation to assess, under the European merger regulation, the proposed acquisition of exclusive control of Air Europa by International Consolidated Airlines (IAG).
The Commission has preliminary concerns that the transaction could reduce competition in the market for passenger air transport services on several domestic, short-haul and long-haul routes to and from Spain.
The Commission has until June 7, 2024 to make a decision. The opening of an in-depth investigation does not prejudge the outcome of the investigation.
Margrethe Vestager, executive vice-president in charge of competition policy, said: ‘IAG and Air Europa are leading airlines in Spain and key providers of connectivity within the country and between Spain, the rest of Europe and Latin America. Through our thorough investigation, we want to ensure that the transaction will not negatively affect the prices or quality of passenger air transport services to and from Spain’.
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