Turkish Airlines will submit a binding offer for a minority stake in Spain’s Air Europa, pending board approval, following a feasibility study aligning the deal with its long-term growth strategy. The carrier sees Air Europa’s Iberian and Latin American networks as a springboard for accelerated expansion and potential synergies via subsidiaries and joint ventures.
Interest was first signalled in June after non-binding talks. The bid follows Lufthansa, Air France-KLM, and IAG all dropping acquisition plans for Air Europa. IAG retains a 20% stake after abandoning a majority takeover due to European Commission objections.
For Q2 2025, Turkish Airlines posted $5.9B in revenue (+5.6% YoY), with passenger revenue up 7.4% and operating profit rising 19.5% to $706M.