International Airlines Group (IAG) has announced a strategic share purchase program from July 1 to August 2, aimed at supporting its acquisition plans for Air Europa. This initiative is part of Iberia’s proposed acquisition of the remaining 80% stake in Air Europa’s issued share capital.
In a filing to the London Stock Exchange, IAG detailed its intention to repurchase up to 27,064,575 ordinary shares, equivalent to 0.5% of its current share capital as of July 1. The company has earmarked EUR 70 million (USD 75.1 million) for this buyback, managed by Goldman Sachs on its behalf with the shares held in treasury.
Should the acquisition of Air Europa not proceed, shares repurchased under this program may be utilized for executive and employee share awards. The European Commission is currently reviewing IAG’s proposed remedy package for the acquisition, with a decision expected by August 20. Potential extensions or delays in the decision process may occur, depending on regulatory considerations.
This strategic move underscores IAG’s commitment to advancing its acquisition strategy and preparing for potential outcomes related to the Air Europa transaction.
