The Lufthansa Group has taken the lead in negotiations to acquire 20% of Air Europa, a Spanish leisure airline.
According to El Economista, Globalia is reportedly close to closing a deal with the German airline that would then have the same stake that the IAG Group holds in Air Europa.
The 20% stake is the limit for a deal to avoid having to go through regulatory approvals and at the same time is a way for the parent company to pay off 475 million euros in loans taken out from the government during the pandemic.
Air Europa was to be acquired by IAG after announcing in November 2019 that it was willing to pay 1 billion euros for the company. Covid-19, however, appeared soon after and paused the negotiation.
In December 2021, the deal was broken due to the effects of the pandemic and regulatory restrictions.
The following year, IAG acquired 20% of Air Europa and intended to take control of it for 400 million euros in 2023. However, in August 2024 the group definitively ended the plans.
Since then, Globalia has been looking for another partner for the carrier. Last November, Air France-KLM emerged as the favorite to acquire the 20%, but the talks did not progress.
Lufthansa, in turn, has just acquired 41% of ITA Airways and should control the Italian airline in the near future.
The group is also one of the most interested in the privatization of TAP Air Portugal, currently controlled by the Portuguese state.
Air Europa closed 2024 with revenues of 2.9 billion euros, 6% higher than in 2023, and saw its market value rise 30% since the end of 2022.
