Abra and Volotea cancel JV plans following IAG cancels Air Europa acquisition

Spanish low-cost carrier Volotea and the Abra Group have cancelled their joint venture (JV) following the International Airlines Group's (IAG) termination of its Air Europa acquisition. Abra Group is the majority shareholder of airlines Aviance and Gol Linhas Aereas Inteligentes. A spokesperson for the company said: ""The joint venture between the Abra Group and Volotea depended on whether the companies could act as remedy takers in the IAG and Air Europa merger."" In June, the companies said they planned to take over slots that IAG would have to hand over as part of the approval process for the acquisition. They looked to establish a base in Madrid with approximately 15 to 20 aircraft. In a LinkedIn post, Volotea said the base would be established if the IAG-Air Europa merger is approved and both parties are designated as remedy takers. The acquisition was cancelled earlier in August.  The spokesperson added that both companies will ""continue exploring future business opportunities"".