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Iberia CCO says airline now more pessimistic about Air Europa deal By Reuters

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© Reuters. FILE PHOTO: Iberia and Air Europa planes parked at Adolfo Suarez Barajas airport through the COVID-19 pandemic in Madrid, Spain, December 15, 2020. REUTERS/Susana Vera/File Photograph

By Clara-Laeila Laudette

MADRID (Reuters) -Iberia airline’s chief industrial officer mentioned on Thursday the Spain-based firm was now extra pessimistic than optimistic concerning the acquisition of its rival Air Europa after the newest regulatory setback within the half-billion-euro takeover bid.

“We wish to hold pushing for this, however the state of affairs has grown ever extra difficult,” Iberia CCO Maria Jesus Lopez mentioned at an occasion on the way forward for aviation held in Madrid.

Britain’s Competitors and Markets Authority earlier this week mentioned it could look at whether or not the 500 million euro ($560.35 million) transaction would hurt competitors within the UK, setting Jan. 19 because the deadline for its preliminary determination.

The IAG mentioned that it could cooperate with the CMA’s investigation.

In a earlier try to safe the deal, British Airways and Iberia proprietor Worldwide Airways Group (LON:) supplied concessions to handle EU antitrust considerations.

The EU govt, which has not supplied particulars consistent with its coverage, has prolonged its deadline for a call on the deal to Jan. 4, casting doubts on whether or not the bid will undergo.

($1 = 0.8923 euros)

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Abhishek Tiwari is the Author & Founder of the CyberYukti.com. He is passionate about Blogging & Digital Marketing.

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