IAG to Modify Iberia Control to Meet Brexit Deadline, Spain Says
- Plan has been agreed and meets EU rules, according to minister
- British Airways parent must act if no Brexit deal is reached
Iberia airlines aircraft in Ciudad Real, Spain.
Photographer: Paul Hanna/BloombergThis article is for subscribers only.
British Airways parent IAG SA will modify the ownership of its Spanish units as required to comply with European Union rules before the Brexit transition period ends, Spain’s second-ranked transport minister said.
London-based IAG has committed to changing the share structure of Iberia, Iberia Express and Vueling by the end of 2020, “making clearer” their control by EU-based investors, Transport Secretary Pedro Saura said in an interview. The government and air-safety agency back the plan, he said.