Airline company IAG, owner of British Airways and Iberia, takes over the Spanish airline Air Europa from the Spanish Globalia for € 1 billion. The two parties have agreed that, the British-Spanish parent company said on Monday announced.

As a result of the takeover, the group will acquire Iberia, Vueling, Level and Air Europe. Whether the EU allows this is still the question, IAG would then control almost the entire Spanish market. With the acquisition, IAG hopes to strengthen Madrid's position as a European hub compared to, among others, important European airports such as Frankfurt, Paris Charles de Gaulle and Schiphol Amsterdam.

"The acquisition of Air Europa adds a new competitive, cost-effective airline to IAG," said IAG CEO Willie Walsh in an explanation. 

Air France-KLM, on the other hand, responded with concern to International Airlines Group (IAG) 's intention to acquire its partner airline Air Europa. The airline group warns that the deal will have a significant impact on competition, particularly in air traffic between Europe and Latin America, and urges investigations.

Currently, the acquired airline is still a member of SkyTeam, the airline alliance of which KLM and Air France are also members. With the Spanish company coming into the hands of Air France-KLM competitor IAG, it seems logical that the airline will leave SkyTeam.

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