Turkish Airlines is advancing towards a potential investment in Air Europa, which is currently owned by Globalia and IAG, with an agreement possibly imminent given the rapid progress of negotiations.
Lufthansa Group remains in discussions regarding a potential stake acquisition in Air Europa, as confirmed by CEO Carsten Spohr, who acknowledged the challenges of reaching a successful agreement. Turkish Airlines and Lufthansa are eyeing a 25pc acquisition in Air Europa, providing the carrier with €240m euros in fresh capital.
Air Europa is negotiating with banks to obtain a new loan providing fresh capital of about €140m. Air France-KLM has officially withdrawn from negotiations for a stake in Air Europa, becoming the second party to exit after Etihad Airways earlier in the year.
Air Europa is also seeking fresh capital through a new loan of approximately EUR140m, negotiating with several banks, including Santander and BBVA. The Spanish carrier must address the repayment of a €475m loan received from Spain’s sovereign wealth fund during the COVID-19 pandemic.
Carsten Spohr shared, “I cannot yet give an answer whether it will fail or not. I can confirm that it is very difficult to get this to succeed.”
An Air France-KLM representative shared, “Air France-KLM stepped out from the process initiated for the sale of a stake in Air Europa as no agreement could be reached with Globalia.”
