Nov 4 (Reuters) - British Airways owner IAG said on
Monday it had agreed to buy Spanish carrier Air Europa for 1
billion euros ($1.12 billion) in cash as it set its sights on
the market in European travel to Latin America.
"Acquiring Air Europa would add a new competitive, cost
effective airline to IAG, consolidating Madrid as a leading
European hub and resulting in IAG achieving South Atlantic
leadership," Willie Walsh, chief executive of IAG said.
($1 = 0.8951 euros)
(Reporting by Yadarisa Shabong in Bengaluru; editing by Patrick
Graham)