IAG yesterday informed the National Securities Market Commission (CNMV) ofits decision to terminate the agreement with Globalia signed on February 23, 2023, under which IAG undertook to acquire the remaining 80% of the issued share capital of Air Europa from Globalia. The Board of Directors has concluded that, in the current regulatory environment, continuing with the transaction would not be in the best interests of the shareholders. Under the terms of the agreement, IAG will pay Globalia €50 million as a break-fee as a consequence of the termination. IAG continues to maintain its 20% minority stake in Air Europa, which it acquired on August 16, 2022.
In addition, IAG’s Board of Directors announced yesterday that it has approved the distribution of a gross cash dividend on account of the 2024 financial results of €0.030 gross per share. The reinstatement of the dividend payment is another important step in the execution of the group’s strategy and highlights the group’s strong cash generation. This interim dividend will be paid as follows: Ex-dividend date: September 5, 2024. Record date: September 6, 2024. Payment date: As of September 9, 2024.
