Turkish Airlines has officially confirmed that it will invest €300 million in the Spanish carrier Air Europa, marking the beginning of the process to acquire a minority stake in the company. According to the press release, most of the investment will be carried out through a capital increase, while the exact percentage of ownership will be determined after the completion of final technical and financial adjustments.
The Turkish airline emphasizes that the goal of the transaction is to strengthen its strategic position in the global market, open new tourism channels from Latin America to Turkey, and expand passenger and cargo networks between Spain and Turkey. The offer from Turkish Airlines has been accepted by Air Europa, and the process is now in the stage of preparing documentation and initiating official procedures.
The procedure is expected to be completed within six to twelve months, subject to receiving all necessary regulatory approvals. Turkish Airlines stresses that any new information that could affect investors’ decisions will be disclosed promptly.
Air Europa, headquartered in Madrid, has for years been one of the key carriers linking Europe with Latin America, and the entry of Turkish Airlines opens opportunities to further strengthen this position and expand into new markets. Its current fleet consists of 48 aircraft – 20 from the Boeing 737 family (18 of the -800 series and two 737 MAX 8) and 28 Boeing 787s (10 of the -8 series and 18 of the -9 series). Its subsidiary, Air Europa Express, operates an additional nine Boeing 737-800s.
The entire process could also be noteworthy from the perspective of global alliance membership. Air Europa is a member of Sky Team, while Turkish Airlines is part of Star Alliance. Notably, when Scandinavian carrier SAS was acquired by the Air France-KLM Group, SAS had to leave Star Alliance and join Sky Team, raising questions about potential future changes in this case as well.
