Bloomberg British Airways parent IAG SA agreed to buy Air Europa in a move that will bolster a Spanish lineup that already includes former national carrier Iberia and discount operator Vueling. IAG will buy the Spanish airline, which serves 69 domestic and international destinations, from tourism group Globalia for 1 billion euros ($1.1 billion), the London-based company said in a …

Bloomberg The Nordic operations of Thomas Cook have been bought by a group of local investors, a little over a month after the parent company went bust. Billionaire Petter Stordalen’s Strawberry Group will team up with Altor Fund V and TDR Capital to take over the assets of Thomas Cook Northern Europe, or Vinggruppen, the group said. “Their great industry …

Bloomberg Ryanair Holdings Plc’s second-quarter profit rose 8% as a revenue boost from extras like speedy boarding and reserved seats outweighed the impact of lower fares and the grounding of Boeing Co’s 737 Max jetliner. Net income increased to 910 million euros ($1 billion) from 841 million euros a year earlier, Europe’s biggest discount carrier said in a statement on …

Bloomberg Wayfair Inc plunged to its lowest levels of the year after the online home-goods retailer gave a disappointing outlook for the critical holiday quarter. The shares fell 17% to $84.23 in New York, their lowest since December 26. The company said on its conference call with analysts and investors that it expects fourth-quarter net revenue of $2.48 billion to …

Bloomberg India is planning to open 100 additional airports by 2024, as part of a plan to revive economic growth in Asia’s third-largest economy, according to people with knowledge of the matter. The proposal, which includes starting 1,000 new routes connecting smaller towns and villages, was discussed at a meeting to review infrastructure needed by 2025, the people said, asking …

Bloomberg Takeaway.com has changed the type of bid it’s making for Just Eat Plc to one that allows it to change the shareholder acceptance threshold down the line as it competes with Naspers Ltd spinoff Prosus NV for the asset. Takeaway is moving from a “scheme of arrangement” to a conditional offer, the company said in a statement on Monday. …

ABU DHABI / WAM The National Central Cooling Company (Tabreed), released on Sunday its consolidated financial results for the first nine months of 2019, reporting an increase of 3.1 percent in the net profit to AED329.1 million. In a press release issued by Tabreed on Sunday, group revenue increased by 3.5 percent to AED1,127.9 million, compared to AED1,090.0 million in …

Bloomberg Saudi Arabia finally kicked off what could be the world’s biggest initial public offering (IPO), revealing potential tax cuts and dividends to lure investors. More than three years after Crown Prince Mohammed bin Salman first raised the idea, oil giant Saudi Aramco announced its intention on Sunday to list shares on the local stock exchange in Riyadh. The shares …

SHARJAH / WAM Real estate transactions have recorded AED4.2 billion in the Emirate of Sharjah during the third quarter of 2019, while the total areas covered in the “sales transactions” in the emirate reached 9.5 million feet, as per the latest report of the Sharjah Real Estate Registration Department (SRERD). Abdulaziz Ahmed Al Shamsi, Director-General of SRERD, said that the …

Dubai / Emirates Business Dubai Land Department (DLD) announced the 16th edition of International Property Show (IPS) in partnership Real Estate Investment Management and Promotion Centre to promote the emirate’s property market. The partnership is a qualitative leap that will bring DLD’s strategic initiatives and projects in the real estate sector. IPS, the Middle East’s biggest property sales platform, that …