IAG lowers the purchase price of Air Europa.

The Anglo-Spanish airline group IAG has reduced the purchase price of the Spanish airline Air Europa to between 300 and 400 million euros (between 355 and 474 million dollars), the digital newspaper El Confidencial reported on Tuesday, citing unidentified sources.

See also: Ryanair appeals to justice for rescue of Air Europa by Spanish government.

The London-based holding company would pay a large part of the new price of Air Europa with its own shares, according to El Confidencial.

IAG had previously said that it was reviewing the purchase operation unveiled a year ago, which at the time was valued at 1,000 million euros before the coronavirus pandemic hit the tourism sector.

This month, the Spanish government announced a 475 million euro aid package for Air Europa.

By Reuters
Information by Inti Landauro and Jesús Aguado; edited by Jason Neely; translated by Darío Fernández in the Gdansk editorial office.

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