Iberia, Spain’s flagship airline, plans to bid for Spanair, an ailing unit of Scandinavia’s SAS AB, the Spanish carrier said in a statement Thursday.
Iberia said in a regulatory filing that it planed to launch the bid in partnership with local Spanish transport company Gestair. Market analysts estimated Spanair’s worth could be around â‚¬800 million (US$1.17 billion).
If successful, a takeover of the country’s second-largest carrier would give Iberia a tighter grip on domestic flights, currently under siege from local and international low-cost airlines.
source: International Herald Tribune