IAG Will Provide EUR100 Mln Loan to Air Europa’s Owner

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IAG said Thursday it had signed a deal with Air Europa’s conglomerate owner Globalia Corporacion Empresarial SA to provide a 100 million euros seven-year unsecured loan.

The airline group that includes British Airways, Vueling and Iberia said the agreement gives it time to evaluate the interest of both parties after terminating the contract for the acquisition of the Spanish airline, Air Europa, in December 2021.

“[The agreement] provides for a period of exclusivity of one year while discussions take place and this is accompanied by a right to match any third party offer for the airline in the next three years, together with a right to exit alongside Globalia, should it sell Air Europa at any time in the future,” the FTSE 100-listed company said.

Source: https://www.marketwatch.com/