Many of the 3,600 Air Europa workers were still in shock yesterday, according to union sources, after the announcement of the purchase of the airline by Iberia, the main rival in the last 30 years. Monday's message addressed to the staff by the CEO of Globalia, Javier Hidalgo, has failed to reassure. The son of the founder of holding company tourist assured that there is a future for the company when the new stage opens already in the hands of IAG. But they disturb the possible conditions for the acquisition imposed by the European Commission, as well as the way to achieve the strong performance objectives that IAG sets for its brands British Airways, Iberia, Vueling and Aer Lingus.
Representatives of the various groups of the Globalia airline spent yesterday in meetings with legal advisors in view of the fact that there are important agreements to sign in the coming days, such as the commitment to develop Air Europa Express based on the growth of Air Europa or the IV collective agreement of the cabin crew (TCPs). "The company has been in a hurry to bind issues that come from many months ago and conveys that the agreement with IAG gives autonomy to the current management to operate normally until the operation with Iberia is closed," explains a union representative, "our work Now it is to tie safeguards to preserve jobs. ”
As he Sepla of the pilots like the Sitcpla of the TCP have addressed their affiliates ensuring that they will fight for employment.
In addition to the commitments to be signed, the prescriptions that IAG will impose on Air Europa to increase its performance to levels close to 13% profit margin before tax with respect to sales are of concern. The Air Europa ratio is 4.8%, far from the standards of the group led by Willie Walsh.
IAG celebrates its Friday Capital Markets Day, when it is foreseeable that it will still tiptoe over the acquisition. Air Europa unions are concerned about relying on IB Opco and not directly on IAG. Nor does it calm the spirits that Air Europa's commitment to respect the brand and way of operating only reaches an initial stage, as reported from London.
While the representatives of Iberia workers see the entry operation of Air Europa as a reinforcement in the group, with the arrival of fleet and flight personnel, in the purchase the integration of its brand in Iberia is feared for the operation as a single firm in the hub of Madrid. "99.9% of the workforce expects cuts if the purchase goes ahead," union sources say.
In addition to de facto eliminating a competitor, Iberia gets slots in the future expansion of terminal 4 of Madrid-Barajas and adds the destinations and operations of Air Europa in Latin America. Another effect of the agreed acquisition is the access to a workforce of almost a thousand pilots, personnel that are scarce in the market.
IAG will be reinforced with 66 aircraft of Boeing, Airbus and Embraer, currently operated by Air Europa, and jumps positions in the market to access new devices, with 49 units that Boeing reserves to Air Europa: 29 B787 and a score of B737 MAX 8.
Giants The integration of Air Europa into IB Opco, a subsidiary of IAG, owner of Iberia, will strengthen the systemic role of the holding, which also controls Vueling and Level, for Aena's business and connectivity in Spain. From the sector it is recalled that something similar occurs with other companies in France, the United Kingdom or Germany.
Canary Coalition calls the CNMC. The candidate of CC-PNC-NC to the Congress, Ana Oramas, described yesterday as "worrying" the purchase announcement. Air Europa and Iberia, together with Vueling, "have a monopoly on most of the routes that connect the Canary Islands with the Peninsula." Therefore, he claimed the intervention of the CNMC to prevent “Derives in an almost total domain of a single group that detracts even more our connectivity. ”
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