IAG originally agreed a deal to buy the Spanish carrier for €1 billion in November 2019 but will now only pay half this amount, according to media reports in Spain.
Reports also suggest that IAG’s payment for buying Air Europa will be deferred until 2026.
IAG has yet to issue any statement on the new Air Europa deal but has been pushing for a cheaper price in recent months due to the catastrophic impact of the pandemic on the aviation industry.
