Air France-KLM and Air Europa: third time lucky?
Following IAG’s failed bid to take over Air Europa, in which it still holds a 20% stake, the future of Globalia is still in doubt. In recent weeks, a fan has returned to the scene after performing approach maneuvers twice: Air France-KLMWith The target is to exit with a minority stake of up to 20%.
Aviation consolidation in Europe could add a new twist to this scenario. negotiations between Air France-KLM and Air Europa The flow of capital from the first to the second occurs, according to sources from the Franco-Dutch group, within the framework of commercial cooperation of the SkyTeam alliance, which both belong to, as sources in Air France confirm to Hosteltur. . Air Europa notes that “there is an active interest”although they do not specify the details of this new approach between both airlines.
Air France-KLM’s interest in taking over Air Europa is renewed. Source: Air Europe
In this sense, the two companies, according to Paris, “have identified a common interest in strengthening their commercial cooperation”, which would facilitate entry as a minority stake of up to 20% in the capital of Air Europa, in a relationship similar to entry into Northern SAS.
Eliminate the cause of dissolution
In addition, according to El Economista, Air France-KLM will provide a capital injection to avoid the cause of dissolution, which will occur at the end of 2025. And all this in a context in which Check-in for an Air Europe flight It has shown remarkable recovery and growth over the past three years. In 2021, the company recorded revenue of approximately 1.3 billion eurosin the context of gradual recovery from the effects of the COVID-19 pandemic.
A year later, turnover increased significantly, reaching turnover 2.342 millionthanks to a recovery in demand for flights and an expansion in supply, it emerged from a loss for the first time with a profit of 14.5 million euros.
Grooms dancing
However, without going into detail, sources at Air Europa consulted by Hosteltur emphasize that Air France-KLM’s interest in Air Europa is not new and that it is also There are and have been other companies interested in acquiring Globalia.like Lufthansa.
In fact, this is not the first time, but the third time that the French intend to enter the capital of a Spanish company, with two unsuccessful attempts due to the effects of the pandemic on the accounts and the intervention of IAG, which ultimately contributed to a loan of 100 million euros. convertible into 20% of capital.
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