Vueling accepts IAG’s £126m bid
SPANISH low-cost airline Vueling yesterday agreed to an improved takeover offer from British Airways owner International Airlines Group.
IAG has had an offer accepted for Vueling
IAG, which already owns 46 per cent of Vueling, last month raised its offer by almost a third to £126million after the Barcelona-based carrier rejected a previous bid.
IAG, which is looking to lay off more than 3,000 workers and reduce salaries at its Spanish airline Iberia, could use Vueling to boost its short-haul business and compete with cheaper operators.