Turkish Airlines (THY) has drawn attention in the aviation industry with its initiative to acquire shares in Spanish airline Air Europa. According to a report by El Español, THY has entered into discussions with Globalia Group, the main shareholder of Air Europa, emerging as a surprise contender among potential investors.
Expanding Global Reach Through Strengthened Partnerships
THY and Air Europa have strengthened their collaboration over the past decade through a codeshare agreement on the Istanbul–Madrid route. As of March 2025, Air Europa began operating flights on this route with its own fleet, signalling the potential for a deeper partnership between the two airlines.
Fierce Competition: Five Global Giants in the Race
With THY entering the fray, the number of airlines interested in acquiring Air Europa has risen to five. Other contenders include industry heavyweights such as Air France-KLM, Lufthansa, Etihad Airways, and Delta Air Lines. While negotiations are ongoing, Air France-KLM and Lufthansa are reportedly the frontrunners.
Hidalgo Family Reluctant to Relinquish Control
The Hidalgo family, which owns Air Europa, is reportedly determined to retain management control of the airline. As such, any potential deal is likely to involve the sale of a minority stake of around 25–30%, while the remaining 20% is expected to stay under the ownership of the current shareholder, International Airlines Group (IAG).
A New Era in the Aviation Industry
This wave of competition in the aviation sector carries strategic significance, especially in light of growing air traffic between Europe and Latin America. THY’s involvement is seen as part of its broader strategy to boost its presence in Europe and tap into new markets.
While speculation continues over which airline Air Europa will ultimately partner with, THY’s stance in the coming weeks is expected to bring greater clarity to the situation.
