International Consolidated Airlines Group SA (WBO:IAG)
€ 3.666 0.02 (0.55%) Market Cap: 17.66 Bil Enterprise Value: 24.09 Bil PE Ratio: 6.19 PB Ratio: 3.68 GF Score: 59/100
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International Consolidated Airlines Group SA to Acquire Air Europa Call Transcript

Nov 04, 2019 / 07:30AM GMT
Release Date Price: €4.21 (+1.45%)
Operator

Ladies and gentlemen, thank you for standing by, and welcome to the International Consolidated Airlines Group conference call. (Operator Instructions) I must advise you that this conference is being recorded today, Monday, the 4th of November, 2019. I would now like to hand the conference over to your speaker today, Willie Walsh. Thank you. Please go ahead, sir.

William Matthew Walsh
International Consolidated Airlines Group, S.A. - CEO & Executive Director

Thank you very much, and good morning, everybody. Thanks for joining us. And I know you're all very busy, so we won't take too long with this presentation. And so we're delighted to announce this morning, agreement to acquire Air Europa. And if I just take you through the transaction, the acquisition will be by Iberia OPCO Handling -- sorry, Holding S.L., which is the parent company of Iberia, and acquire 100% of the Air Division of Globalia, which is the parent company of Air Europa.

The purchase price is EUR 1 billion. We see it as a bolt-on acquisition and, initially, the Air Europa brand

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