British Airways-owner looks westward with 1 billion euros Air Europa purchase
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(Reuters) - British Airways owner IAG said on Monday it had agreed to buy Spanish carrier Air Europa for 1 billion euros ($1.12 billion) in cash, bolstering its ability to compete for European travel to Latin America and the Caribbean through Madrid.Against the backdrop of a challenging environment for airlines globally, the deal is the latest by a big European carrier looking westward to boost traffic and average fares. Air Europa offers domestic and international flights to 69 destinations,..