International Consolidated Airlines Group SA to Acquire Air Europa Call Transcript
Ladies and gentlemen, thank you for standing by, and welcome to the International Consolidated Airlines Group conference call. (Operator Instructions) I must advise you that this conference is being recorded today, Monday, the 4th of November, 2019. I would now like to hand the conference over to your speaker today, Willie Walsh. Thank you. Please go ahead, sir.
Thank you very much, and good morning, everybody. Thanks for joining us. And I know you're all very busy, so we won't take too long with this presentation. And so we're delighted to announce this morning, agreement to acquire Air Europa. And if I just take you through the transaction, the acquisition will be by Iberia OPCO Handling -- sorry, Holding S.L., which is the parent company of Iberia, and acquire 100% of the Air Division of Globalia, which is the parent company of Air Europa.
The purchase price is EUR 1 billion. We see it as a bolt-on acquisition and, initially, the Air Europa brand
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