{"id":179078,"date":"2025-09-17T16:00:58","date_gmt":"2025-09-17T16:00:58","guid":{"rendered":"https:\/\/aviacionaldia.com\/?p=179078"},"modified":"2025-09-18T12:22:25","modified_gmt":"2025-09-18T12:22:25","slug":"turkish-airlines-rules-out-increasing-its-stake-in-air-europa","status":"publish","type":"post","link":"https:\/\/aviacionaldia.com\/en\/2025\/09\/turkish-airlines-rules-out-increasing-its-stake-in-air-europa.html","title":{"rendered":"Turkish Airlines Rules Out Increasing Its Stake in Air Europa"},"content":{"rendered":"\n

Turkish Airlines<\/strong> is not seeking to take control of Air Europa<\/strong>. This was confirmed by its Chairman, Ahmet Bolat, who emphasized that the company is only interested in consolidating a strategic partnership with the Spanish airline, without increasing its shareholding beyond what has been agreed.<\/p>\n\n\n\n

\u201cWe are not interested in owning Air Europa; we are interested in working with Air Europa,\u201d stated Bolat during a meeting with journalists in Seville.<\/p>\n\n\n\n

A \u20ac300 Million Investment in Convertible Debt<\/h2>\n\n\n\n

The Turkish airline will invest \u20ac300 million (USD 355 million) in convertible debt, which represents an equity stake of between 25% and 27% in Air Europa.<\/p>\n\n\n\n

The agreement was endorsed by International Airlines Group (IAG), the parent company of British Airways and Iberia, which owns 20% of Air Europa.<\/p>\n\n\n\n

European Union Regulatory Restrictions<\/h2>\n\n\n\n

Bolat noted that EU regulations prohibit a non-European Union airline from owning 50% or more of a company based within the bloc. This regulation makes it impossible for Turkish Airlines to pursue a majority control of Air Europa, even if it desired to.<\/p>\n\n\n\n

\u2192 Air Europa Announces New Route Between Madrid and Geneva Starting June 2026<\/a><\/em><\/strong><\/p>\n\n\n\n

Strategic Interest in Latin America<\/h2>\n\n\n\n

Beyond the financial aspect, Turkish Airlines is focusing on Air Europa\u2019s reach in Latin America, a key market for the Turkish airline\u2019s expansion. According to Bolat, this regional footprint is one of the main attractions of the alliance.<\/p>\n\n\n\n

Why Other Bidders Were Left Out<\/h2>\n\n\n\n

The Chairman of Turkish Airlines explained that the other candidates negotiating with the Hidalgo family\u2014the owners of Air Europa\u2014failed to convince, not because of the price offered, which was similar to that of the Turkish airline, but because of the business model they proposed.<\/p>\n\n\n\n

Bolat did not reveal who these bidders were but insisted that the decisive factor was what each player brought to Air Europa\u2019s growth strategy.<\/p>\n\n\n\n

Finally, Bolat stated that the business plan designed by Turkish Airlines for this partnership was what tipped the scales in its favor. Although he avoided giving details due to the confidential nature of the information, he noted that both the Hidalgo family and IAG endorsed the proposal.<\/p>\n\n\n\n

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