(Telestock) – The Iag Group announced its decision to abandon the acquisition of Air Europa, without waiting for the response from the European antitrust authority which was expected on August 20.
The Iag Group will have to pay a fine of 50 million euros, retaining the minority stake of 20% in the capital of Air Europa. It was the CEO of IAG, Luis Gallego, who admitted that the European Commission considered the commitments proposed by the group insufficient.