The Spanish airline announced that the agreement, which foresees Turkish Airlines acquiring a 25% stake, is in its final stages.
Spanish airline Air Europa has confirmed that strategic partnership talks with Turkish Airlines (THY) are progressing positively. However, the company stated that the agreement has not yet been finalised.
The agreement, which includes Istanbul-based Turkish Airlines acquiring approximately 25% of Air Europa’s shares, was described as being “in its final stages” by Globalia, the Spanish tourism group that is Air Europa’s main shareholder.
In a statement by Globalia, it was recalled that the €475 million loan provided in 2020 by Spain’s state-backed SEPI strategic support fund has not yet been repaid, and the importance of the current financial environment in which the negotiations are continuing was emphasised.
The investment plan, first announced earlier this year, is considered a critical step for Turkish Airlines to strengthen its presence in Southern Europe and to open new growth corridors between Madrid, Istanbul, and Latin America.
A statement from Air Europa noted that details remain confidential but underlined that the negotiations are “progressing in the right direction.” The company reported that although the agreement has not yet been finalised, the process is moving forward positively.
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