Turkish Airlines has made a binding offer of €275m to acquire between 26pc and 27pc of Air Europa.
The investment supports Turkish Airlines’ 2033 strategy, focusing on long-term value creation and growth in the Latin American market. Air Europa’s president, Juan José Hidalgo, expressed satisfaction with the deal, which will enable repayment of a EUR475m loan from Spain’s sovereign wealth fund.
Globalia will retain two strong partners with Turkish Airlines and IAG, after a failed agreement with IAG for complete ownership in 2024. Spain’s Audiencia Nacional court ruled to uphold the confidentiality of documents related to the SEPI bailout for Air Europa.
Juan José Hidalgo shared, “The money would ensure the carrier could continue operating.”
Turkish Airlines shared in a written statement, “Investing in Air Europa will be compatible with the long-term value creation targets within the scope of our 2033 strategy.”
