Air Europa, the Spanish carrier currently undergoing a privatization and acquisition process, is facing increased uncertainty in its sale as the airline evaluates underwhelming offers from major European airline groups. Bids submitted by both Lufthansa (Germany) and Air France-KLM are reportedly below expectations, casting doubt over the timing and structure of a potential transaction.
Air Europa, Spain’s second-largest airline, has announced plans to sell 20% of its capital to generate funds for repaying its bailout debt, which is due in 2026. The airline has made it clear that it does not want any new partners influencing its operations, signaling a preference for financial backing without strategic control.
IAG CEO Luis Gallego has not yet confirmed whether the group will take part in Globalia’s proposed capital increase for Air Europa, aimed at strengthening the Spanish airline’s financial stability. This potential investment would enhance Air Europa’s fiscal resilience, particularly valuable as the airline seeks to recover from recent economic challenges and compete effectively within Europe.
