IAG is taking over the Spanish carrier Air Europa for €1bn.
With a fleet of 66 aircraft, in 2018 Air Europa carried 11,8 million passengers, generated revenue of €2.1bn, and an operating profit of €100 million.
The owner of Aer Lingus, Iberia, and British Airways seeks to bolster its service from Europe to Latin America and the Caribbean via Madrid, an airport that emerges as a leading hub for South-Atlantic travel. Air Europa offers domestic and international flights to 69 destinations.
Along similar lines, Norwegian Air has cut prices for transatlantic travel, moving to sign a partnership with JetBlue Airways to enable European passengers to book to 100 US cities.