International Consolidated Airlines (GB:IAG) has released an update.
International Consolidated Airlines Group (IAG) has decided to cancel its purchase agreement to acquire 80% of Air Europa due to unfavorable regulatory conditions, opting to protect shareholder interests. IAG will pay a break-fee of 50 million euros to Globalia and will continue to hold a 20% stake in Air Europa. The company emphasizes its commitment to strengthening its Madrid hub and competing in European markets.
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