Merger Update: IAG/Air Europa

Start of CMA Merger Investigation: anticipated acquisition of Air Europa Líneas Aéreas, S.A.U., Aeronova S.L.U., León Activos Aeronáuticos, S.L.U. and Globalia Lease Finance Seven Limited (together, Air Europa) by International Consolidated Airlines Group, S.A.

The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services. 

The CMA announced the launch of its merger inquiry by notice to the Parties on 19 November 2021 and has a deadline of 19 January 2022 for its phase 1 decision.