Spanish carrier Air Europa has accepted an offer from Turkish Airlines to acquire a 26–27% stake in its capital for about €300 million, providing crucial funds to repay its €475 million bailout debt to Spain’s state-owned SEPI.
The deal includes a €275 million loan convertible into shares, plus €25 million in immediate equity, pending regulatory approval. This follows failed negotiations with Lufthansa and Air France-KLM, and comes after IAG (British Airways/Iberia’s parent) secured a 20% stake but abandoned a full takeover due to EU competition concerns.
Air Europa’s majority shareholder Globalia recently injected €65 million, while IAG added €16 million to protect its shareholding.
Turkish Airlines, the world’s most internationally connected airline, views the move as strategically complementary—linking its global hub in Istanbul with Air Europa’s strong Iberian and Latin American network. The investment is expected to accelerate growth in the Latin American market and strengthen Turkish Airlines’ regional diversification.
This post was published on 22 August 2025 18:09
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