Link Securities | IAG (IAG) has decided to participate in Air Europa’s capital increase following the entry of Turkish Airlines into its shareholding structure, as confirmed on Friday by the Spanish-British group, according to a report in Expansión on Friday.
Iberia’s parent company acquired a 20% stake in Air Europa in August 2022 after converting a €100 million participatory loan. This was the first step in its second attempt to acquire Air Europa, which ultimately failed in August 2024 after obstacles were raised by the Competition Authority in Brussels.
Last December, Air Europa proposed an €81 million capital increase to strengthen its capital base, with Globalia subscribing €65 million and IAG doing the same with €16 million to maintain its existing 20% stake. This time, the context is different. Turkish Airlines has agreed with Air Europa on a total injection of €300 million, which will give it control of between 26% and 27% of the shareholding. IAG is in the same situation as in 2024, and its Board has decided to participate in order to maintain its 20% stake.
