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UPDATE 1-Iberia CCO says airline now more pessimistic about Air Europa deal

Thu, 25th Nov 2021 20:02

(Adds detail, quote, background)

By Clara-Laeila Laudette

MADRID, Nov 25 (Reuters) - Iberia airline's chief commercial
officer said on Thursday the Spain-based company was now more
pessimistic than optimistic about the acquisition of its rival
Air Europa after the latest regulatory setback in the
half-billion-euro takeover bid.

"We want to keep pushing for this, but the situation has
grown ever more complicated," Iberia CCO Maria Jesus Lopez said
at an event on the future of aviation held in Madrid.

Britain's Competition and Markets Authority earlier this
week said it would examine whether the 500 million euro
($560.35 million) transaction would harm competition in the UK,
setting Jan. 19 as the deadline for its initial decision.

IAG said that it would cooperate with the CMA's
investigation.

In a previous attempt to secure the deal, British Airways
and Iberia owner International Airlines Group offered
concessions to address EU antitrust concerns.

The EU executive, which has not provided details in line
with its policy, has extended its deadline for a decision on the
deal to Jan. 4, casting doubts on whether the bid will go
through.

($1 = 0.8923 euros)
(Reporting by Clara-Laeila Laudette; editing by Jesús Aguado,
Kirsten Donovan)

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