Skift Take
IAG is once again scrapping its plans to acquire Air Europa after it seemed likely that regulators would reject the deal.
IAG, the parent company of British Airways and Iberia, announced Thursday that it was terminating its proposed takeover of Air Europa.
The company had offered concessions to European Union regulators in June after they warned that the acquisition could be anticompetitive. Some of these concessions included ceding 52% of Air Europa’s flights to its rivals.
Air Europa is the third-largest carrier in Spain with a hub in Madrid. IAG alr