Jurisdiction(s):
United Kingdom

Key definition

Abandonment definition

What does Abandonment mean? Abandonment describes, in pensions practice, steps by an employer to sever or materially reduce its ongoing support for an occupational pension scheme—typically a defined benefit (DB) scheme—so the scheme becomes effectively independent of its sponsor (for example, by removing or replacing the statutory employer with a weak vehicle, leaving no meaningful employer covenant). The term is not defined in legislation or case law; it is a descriptive expression used in regulatory guidance and practitioner discourse. Across England & Wales, Scotland and Northern Ireland, such activity engages The Pensions Regulator’s anti-avoidance regime and may warrant seeking clearance. TPR can issue...

Archived European Commission Merger Investigation: IAG/Air Europa—Phase II Investigation, Proposed Commitments, and Abandonment (Notification Withdrawn 16 December 2021)

Published by a LexisNexis Competition expert

Practice notes

CASE HUB ARCHIVED

This archive records the position as at the date the deal was abandoned on 16 December 2021 and is no longer being maintained. See further, timeline.

Case facts

Outline: European Commission merger inquiry into International Airlines Group’s proposed purchase of Air Europa (M.9637). The contemplated deal would create a horizontal overlap in the market for providing passenger air transport services.

Latest developments

On 16 December 2021, the parties withdrew the Commission notification and confirmed that the transaction had been abandoned.

Parties

International Airlines Group (IAG): Headquartered across Spain and the UK, IAG owns Spain’s flag carrier Iberia and the Spanish low-cost airline Vueling, as well as the UK flag carrier British Airways, Level, and Ireland’s flag carrier Aer Lingus. IAG ranks as Europe’s third-largest airline group, behind Ryanair and Lufthansa, and is the largest in Spain. Iberia belongs to the Oneworld alliance.
Air Europa: Air Europa, currently part of Globalia, a Spanish tourism group, is Spain’s third-largest airline (after IAG and Ryanair)...

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Web page updated on 21/05/2026

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