Ryanair has expressed interest in buying slots that International Consolidated Airlines Group (IAG) may be forced to sell as part of the European antitrust regulator's approval of its acquisition of Air Europa. In a statement, Ryanair said it is "following the process because we are interested in the possible liberation of slots in different airports." The company said it is specifically interested in slots at airports in the Canary and Balearic Islands, as well as in Madrid.
IAG agreed to buy the remaining 80% of Air Europa in February for $431 million. The deal still needs approval from the European Commission, which is concerned that the acquisition could reduce competition on transatlantic routes. As part of its approval process, the European Commission could require IAG to sell slots at certain airports. Ryanair is hoping to buy some of these slots, which would allow it to expand its operations in Spain.
Ryanair is already the largest airline in Spain, with a market share of around 25%. The company operates over 200 routes from Spain to destinations across Europe and North Africa. The acquisition of Air Europa would give IAG a larger presence in Spain and on transatlantic routes. The company already owns British Airways, Iberia, and Vueling.
If the European Commission approves the deal, it would be the latest in a series of consolidation moves in the airline industry. In recent years, there have been a number of mergers and acquisitions, including the merger of American Airlines and US Airways, and the acquisition of Delta by Northwest Airlines. These consolidation moves have led to concerns about reduced competition and higher fares. However, the airlines argue that mergers and acquisitions are necessary to survive in a competitive industry. It remains to be seen whether the European Commission will approve IAG's acquisition of Air Europa. However, Ryanair is hoping to benefit from the deal, regardless of the outcome.