IAG SA’s €400 million ($428 million) takeover of Air Europa risks being derailed for a second time, unless the firms fix a list of anticompetitive concerns handed down by European Union regulators.
The European Commission said Friday it fired off a so-called statement of objections warning that the deal could hamper competition on multiple routes within Spain as well as connections with the rest of Europe, the Middle East and the Americas. Domestic routes lacking high-speed train alternatives could be particularly hard hit, the regulator said.