IAG, parent of British Airways, also owns Iberia, Aer Lingus, Vueling, and LEVEL. Now for the price of €1 billion they’re acquiring Air Europa (10 times current earnings). The deal is expected to close in the second half of 2020.
They are currently the third largest Spanish airline, behind Iberia and Vueling already owned by IAG. This is a blow to transatlantic redemptions using Delta miles.