IAG to complete full purchase of Air Europa

International Airlines Group (IAG), the parent company of British Airways, has announced it aims to buy the remaining 80% of Air Europa it does not already own. The deal, which is subject to regulatory approval but not that of IAG shareholders, is to give the group increased access to Latin America and Asia, it said in a note to the London and Spanish stock exchanges. IAG’s offer of €400 million includes €200 million upon closing, comprising €100 million in IAG ordinary shares and €100 million cash, to be followed by a further tranches €100 million payable in cash on the