Air Europa becomes a hot commodity, Turkish Airlines also wants to bid
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Civil Aviation Resources Network, June 23, 2025: According to Reuters, two people familiar with the matter revealed that Turkish Airlines is considering bidding for a minority stake in Air Europa, the latest airline to express interest in Air Europa. Interested investors need to submit binding bids by early July.
It is significant that Turkish Airlines is considering bidding because it is rare for airlines outside Europe to acquire shares in airlines within Europe.
According to Reuters, Air France-KLM and Lufthansa are also negotiating a share acquisition with Globalia, the holding company of Air Europa.
Only a little over a quarter of Turkish Airlines' revenue comes from Europe, and it has a code-sharing partnership with Air Europa.
The next stage of the long process
The binding bid will mark the next stage in the long sale process of Air Europa. Air Europa is trying to raise funds by selling shares to repay government loans obtained during the epidemic. According to previous plans, the deadline for submitting binding bids was set in May.
The sale process has faced delays in part because of disagreements among members of Air Europa's founding family, the Hidalgos, and concerns among interested airlines about the structure of the deal, people familiar with the matter said.
The interested parties are working with advisers to structure the deal in a way that would allow them to take full control of the airline in the future after acquiring a minority stake of about 20 percent.
Some potential buyers have expressed concerns about the lack of clarity on how to take full control of Air Europa.
Last year, British Airways parent IAG, which already owns 20 percent of Air Europa, abandoned its bid for full control of the airline because regulators were concerned about competition issues given IAG's ownership of Iberia.
European airlines are under increasing pressure to consolidate to better compete with global giants in the United States and the Middle East. Many airlines see the most popular southern European routes as expansion targets. Air Europa operates domestic flights in Spain and international flights between Madrid and major cities in Europe and Latin America.