Luis Gallego, the Chief Executive of IAG, British Airways’ parent company, said on Wednesday a deal over the acquisition of Spanish airline Air Europa may take at least 18 months.
“We have to decide on a calendar to take 100%, but I think it would take minimum 18 months,” Gallego said during an event called ‘Wake Up Spain’, held in Madrid.
The company will also have to secure anti trust approvals in several countries, Gallego said.
IAG has recently granted Air Europa a loan convertible into a 20% stake.