IAG formalized its request to buy Air Europa before the European Commission

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IAG formalized its request to buy Air Europa before the European Commission

Powered formalizes the purchase request Air Europe before the European Commission. The company emphasized in a press release that this operation will bring benefits for consumers, for their hub in Madrid and for Spain.

First of all, consumers will benefit from an “increase in routes” and “frequencies” and, “thanks to the optimization of flight schedules, flexibility for travelers will also increase.” The company will operate at least 500 new origin and destination combinations and, in particular, routes to Asia from Spain.

Also, this change will allow flight schedules and connections to be improved so that consumers have more options to choose from. For example, today two schedules are offered daily to fly between Bilbao and Buenos Aires with a stopover in Madrid, but, again, the combination of Iberia and Air Europa and the adjustment of their schedules will allow us to moving to three shorter schedules. stops. “The same thing happens in many other connections,” the note added.

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Likewise, a stronger Madrid hub will better position Spain in the global economy. It will provide direct and indirect economic benefits, create quality jobs, improve tourism in general quantity and quality (high-level tourists), generate more revenue for the airport and boost business in air cargo.

The company estimates that the operation will create between 1,250 and 1,800 direct jobs, an increase in the annual income of Madrid airport of around 30 million euros, as well as an increase in cargo traffic of 16,000 tons.

Compete in Europe

In addition, this operation will transform Madrid-Barajas and increase air competition within Europe and also between Europe and the rest of the world. Hub in Madrid can compete with the great hubs in the EU: Paris, Munich, Frankfurt, and Amsterdam (all with a reference airline).

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Iberia and Air Europa together share a lot in common with Europe’s leading airline hubs. It will be similar to Air France in Paris and less than Lufthansa in Munich or KLM in Amsterdam.

The merger will increase Madrid-Barajas traffic by at least 1.6 million passengers per year, as the scale allows greater connectivity and drives increased demand.

European airlines face increasing competition from other regions on other continents. We need stronger and more efficient companies. A stronger airline group will strengthen Europe’s competitiveness against airlines from other regions such as America or Asia.