Air France-KLM would be “ interested » by an entry into the capital of Air Europa, the Spanish group Globalia, owner of the airline, told AFP this Wednesday. “ There is an interest ”, just as there are “ from other airlines or other funds “, told AFP a spokesperson for Globalia, questioned about information from the economic media The Economist.
The group even assures that negotiations are already underway. “ There is nothing concluded at the moment », Specified this source. According to The Economistwhich cites anonymous sources, the Franco-Dutch group wishes to acquire a 20% stake in Air Europa.
Affected by the Olympics, Air France-KLM’s profit contracts
Contacted by the Reuters agency, Air France-KLM qualified the information, citing negotiations regarding commercial cooperation with Air Europa as part of the SkyTeam alliance. On the other hand, he did not comment on the potential acquisition of a stake in the Spanish airline.
100 million euros
The cost of this operation, specifies The Economistwould be ” vastly superior », to the 100 million euros disbursed by IAG, parent company of British Airways and Iberia, for a similar stake in the Spanish company during the Covid-19 crisis.
IAG takes off ahead of Air France-KLM and Lufthansa
Following this acquisition, IAG initiated discussions with Globalia to buy Air Europa. But these negotiations were finally abandoned last summer, due to the hostility of the European Commission to this operation. In January, Brussels had in fact opened an investigation into this takeover project, fearing that the operation would reduce competition on several routes, in particular between Madrid and Latin America and between the Iberian Peninsula and the Balearic Islands and the Canaries.
Saved from bankruptcy by the intervention of the French and Dutch states during the Covid-19 crisis, twice recapitalized, Air France-KLM, once again profitable, has expressed its desire to participate in the consolidation of the European air sector, as its main competitors IAG and Lufthansa. The group led by Benjamin Smith officially acquired a 19.9% stake in the Scandinavian company SAS last summer. He also expressed his interest in the Portuguese company TAP, which must be privatized in 2025 after having been urgently renationalized during the health crisis.
As a reminder, the Air Europa company, which currently has a fleet of around fifty aircraft, operates domestic Spanish flights, and European and long-haul connections to Latin America and the Caribbean. It transported 11.7 million passengers in 2023. The company earned a turnover of 2.76 billion euros last year, up 18% compared to 2022.
(With AFP and Reuters)
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