Brussels 'stops the clock' in its study of the merger of Iberia and Air Europa to demand additional information

MADRID, 4 Mar. (EUROPA PRESS) -

The European Commission has 'stopped the clock' in its study of the purchase operation of Air Europa by Iberia, as Europa Press has been informed by sources from IAG, the holding company that owns the Spanish airline.

The 'stop the clock' instrument is commonly used in this type of process and serves to collect additional information without consuming the regulated time.

According to the same sources, IAG will work to provide "as soon as possible" all the requested data that is in its possession.

IAG's intention is for the European Commission to authorize the purchase of the airline with all guarantees.

"The operation will allow the strength of Iberia and Air Europa to be combined in Spain, which will bring important benefits for consumers, for the Madrid-Barajas hub and for the competitiveness of our country's economy," IAG sources highlight.

A few days ago, the IAG group presented a series of commitments to Brussels to try to overcome the reservations it has regarding the merger of Iberia and Air Europa, an operation on which last January it began an in-depth investigation to measure its impact on the competition in the community space.

The new proposal for commitments ('remedies' in community jargon) was formally notified to the Community Executive last Friday, February 23.

The purchase plan was notified on December 11, 2023 to Brussels, which in theory had 90 days, until June 7 of this year, to make a decision, although with the option of 'stopping the clock' with extensions of between 15 or 20 business days.

Community services reported on January 24 of the start of an in-depth investigation, due to fears that the purchase of Air Europa by the IAG holding company, the Spanish-British parent company of Iberia, could reduce competition in the airline market. air passenger transport services on various national, short-distance and long-distance routes both inside and outside Spain.