Alphavalue/ Divacons | Air Europa, Spain’s third largest airline, is in talks to sell a 20% stake to Air France-KLM and establish a commercial cooperation. The deal is expected to be valued at less than €100m and is unlikely to trigger antitrust intervention by the EU. Previously, IAG (owner of the two largest Spanish airlines) abandoned plans to acquire Air Europa, probably due to irreconcilable differences between the remedies required by the European Commission and the concessions necessary to preserve synergies. However, IAG retains a minority 20% stake in the airline. This partial acquisition would make strategic sense and would be significant in strengthening Air France-KLM’s presence in Spanish-speaking markets. A future full acquisition is plausible and may encounter fewer EU antitrust obstacles than an alliance with IAG.
Air Europa in contact with Air France-KLM for possible partial buyout, IAG retains 20% minority stake
Ai-Europa
