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Calviño admits that the State is considering entering the capital of Air Europa after the failed purchase by Iberia

Sumary of Calviño admits that the State is considering entering the capital of Air Europa after the failed purchase by Iberia:

  • The First Vice President and Minister of Economic Affairs and Digital Transformation, Nadia Calviño, has not ruled out that the State becomes a shareholder of Air Europa after Iberia’s failed purchase of the Globalia group airline.
  • Last December, the Ministry of Economic Affairs and Digital Transformation stated that the Spanish Executive continues to “analyze the different options” that are open after the decision of IAG and Globalia to terminate the Air Europa purchase agreement by mutual agreement.
  • IAG and Globalia terminated the contract IAG and Globalia announced last December the final termination of the agreement signed on November 4, 2019 and modified on January 20, 2021, according to which Iberia agreed to acquire the entire share capital of Air Europa.
  • In a statement issued to the National Securities Market Commission (CNMV) both companies reported that IAG closed an agreement of intent with Globalia to evaluate “other structures that may be interesting for both companies”, offering similar benefits for their shareholders, customers and employees.
  • In addition to the previously agreed penalty (‘break-fee’) of 40 million euros, IAG will pay Globalia 35 million euros.

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