European aviation giant IAG has converted a €100 million loan to Air Europa’s parent company into a 20 per cent stake in the Spanish carrier.
IAG, which owns British Airways, Iberia, Aer Lingus and Vueling, admitted it was looking to revive its bid to purchase Air Europa after loaning €100 million to the airline’s owner Globalia in March 2022
The airline group announced on Tuesday (16 August) that it had “exercised its option to exchange the group’s €100 million seven-year…