International Airlines Group (IAG) Spanish airline subsidiary Iberia plans to buy Air Europa from its current owner Globalia in a €1 billion ($1.12 billion) deal that is set to transform its Madrid base into a “true rival” to Europe’s biggest hub airports.  Air Europa operates scheduled flights to 69 destinations across Europe, Latin America, the US, the Caribbean and North Africa, positioning IAG’s Madrid hub to better-compete with London Heathrow, ...

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