IAG to provide a loan to Air Europa’s owner in return for a possible 20% share

International Airlines Group (IAG)’s quest to acquire Air Europa is not lost. IAG is still in the game. IAG is providing a lifeline to Globalia, the owner of Air Europa.

IAG will offer a 100 million euros seven-year unsecured loan to Globalia.

In return, IAG will have the option to trade the loan into a possible 20 percent share of Air Europa.

The deal is conditional on the approval from syndicated banks.