Turkish Airlines Pursues Minority Stake in Air Europa Amid Bidding Battle

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Key Takeaways

• Turkish Airlines plans to buy about 20% of Air Europa by early July 2025.
• Air France-KLM and Lufthansa also bid for minority stakes, making competition fierce.
• Globalia wants to keep majority control with at least 51% ownership.

Turkish Airlines Considers Minority Stake in Air Europa: What’s at Stake for the European Aviation Market?

Turkish Airlines has confirmed it is in early talks to buy a minority stake in Spain’s Air Europa, setting the stage for a major shift in the European airline industry. As of June 21, 2025, the process is heating up, with binding bids due in early July. This move comes as Air Europa’s parent company, Globalia, seeks new investment while holding onto majority control. The deal has drawn interest from other big players, including Air France-KLM and Lufthansa, making the competition fierce.

Turkish Airlines Pursues Minority Stake in Air Europa Amid Bidding Battle

Let’s break down what’s happening, why it matters, and what it could mean for travelers, airline workers, and the broader European market.

Who’s Involved and What’s Happening?

Turkish Airlines is one of the world’s largest airlines, based in Türkiye 🇹🇷, with a vast network connecting Europe, Asia, Africa, and the Americas. Air Europa is Spain’s second-largest airline, owned by the Hidalgo family through their company, Globalia. Air Europa is a key player in the Spanish and European markets, especially on routes between Spain and Latin America.

Turkish Airlines has confirmed it is in preliminary talks to buy about 20% of Air Europa.
Air France-KLM and Lufthansa are also preparing bids for a similar minority stake.
Globalia wants to sell a minority stake but keep at least 51% ownership to stay in control.
Binding bids are due by early July 2025.

This is not just a business deal. It could change how airlines work together, which routes are offered, and how much travelers pay for flights in and out of Spain.

Why Is Turkish Airlines Interested in Air Europa?

Turkish Airlines already has a codeshare agreement with Air Europa. This means they share some flights, making it easier for passengers to connect between the two airlines. But a minority stake would take the partnership to a new level.

Key reasons for Turkish Airlines’ interest:

Expanding its European presence: By owning part of Air Europa, Turkish Airlines could get better access to the Spanish market and more routes across Europe.
Strengthening its network: Air Europa is strong in Spain and Latin America. Turkish Airlines could use this to offer more connections for its passengers.
Competing with other giants: With Air France-KLM and Lufthansa also interested, Turkish Airlines wants to make sure it doesn’t fall behind in Europe.

According to analysis from VisaVerge.com, Turkish Airlines’ move is part of a larger plan to grow its influence in Europe and build new partnerships beyond its current codeshare with Air Europa.

What Does Globalia Want?

Globalia, the parent company of Air Europa, is looking for new investment to help the airline grow and compete. But the Hidalgo family, who controls Globalia, has made it clear they want to keep majority control. This means they want to sell less than half of the company—about 20%—to a new partner.

Why keep control?

Strategic direction: By holding at least 51%, Globalia can decide the airline’s future.
Spanish interests: Keeping control helps make sure Air Europa’s decisions match Spain’s needs, not just those of a foreign investor.
Stability: After the pandemic, many airlines are still recovering. Globalia wants to make sure Air Europa stays strong and competitive.

The Competitive Bidding Process

This is not a simple sale. It’s a competitive bidding process with several major airlines involved. Here’s how it works:

Preliminary Talks: Turkish Airlines, Air France-KLM, and Lufthansa talk with Globalia about what a deal might look like.
Due Diligence: Each airline reviews Air Europa’s finances, routes, and business plans to see if the investment makes sense.
Submission of Binding Bids: All interested airlines must submit their final offers by early July 2025.
Evaluation by Globalia: Globalia will look at each bid, considering the price, the strategic fit, and whether the bidder is willing to let Globalia keep control.
Regulatory Review: The winning bid will need approval from Spanish and European Union competition authorities to make sure it doesn’t hurt competition.
Finalization and Announcement: If approved, the deal will be announced and put into action.

Key point: The process is moving quickly, with a decision expected soon after the July deadline.

What’s at Stake for Air Europa?

Air Europa stands to gain a lot from a new investor:

Fresh capital: The money from selling a minority stake could help Air Europa renew its fleet, open new routes, and improve its services.
Stronger partnerships: Working closely with a major airline like Turkish Airlines, Air France-KLM, or Lufthansa could bring new opportunities for growth.
Better competitiveness: With more resources, Air Europa can better compete with Iberia, Spain’s largest airline, and other European carriers.

Air Europa already gets more than 25% of its revenue from European operations, showing how important the European market is for the airline.

What Does This Mean for Travelers?

For people flying to, from, or within Spain, this deal could bring changes:

More route options: New partnerships could mean more direct flights and better connections.
Potential for lower prices: Increased competition may lead to better deals for travelers.
Improved service: Investment in new planes and technology could make flying more comfortable and reliable.

However, if the deal leads to less competition (for example, if one airline group controls too much of the market), prices could go up instead. That’s why regulators will look closely at any agreement.

How Will Regulators Respond?

Any deal involving major airlines in Europe must be approved by competition authorities. In this case, both the Spanish Competition Authority (CNMC) and the European Commission’s Directorate-General for Competition will review the transaction.

What will they look at?

Market share: Will the deal give one airline group too much control over certain routes?
Impact on competition: Could the deal hurt smaller airlines or limit choices for travelers?
National interests: Will the deal protect Spain’s interests and keep Air Europa as a strong Spanish airline?

You can learn more about how the European Commission reviews airline mergers and investments on the official EU competition website.

What Are the Other Airlines After?

Air France-KLM and Lufthansa are not just bystanders. Both are preparing their own bids for the minority stake in Air Europa.

Air France-KLM: Wants to expand its reach in Southern Europe and strengthen its network against rivals like Iberia.
Lufthansa: Sees Air Europa as a way to grow its presence in Spain and Latin America.

If either of these groups wins the bid, it could lead to more consolidation in the European airline industry. This means fewer, but larger, airline groups controlling more of the market.

Background: Why Is Air Europa Up for Sale?

Air Europa has been the focus of takeover talks for years. In the past, Iberia’s parent company, IAG, tried to buy Air Europa, but the deal fell through because of regulatory and financial problems.

The COVID-19 pandemic hit airlines hard, and Air Europa was no exception. The need for new investment is partly a result of the tough years during and after the pandemic. Now, with travel picking up again, Air Europa is looking for a partner to help it grow.

What Happens Next?

The next few weeks are critical:

Early July 2025: Deadline for binding bids from Turkish Airlines, Air France-KLM, and Lufthansa.
July 2025: Globalia will review the bids and pick a winner.
After July: The winning bid will go through regulatory review. If approved, the deal will be announced and put into action.

If Turkish Airlines secures the minority stake, expect to see:

Closer cooperation between Turkish Airlines and Air Europa, possibly including joint ventures and shared routes.
More competition on flights between Spain, Europe, and Türkiye 🇹🇷.
New investment in Air Europa’s fleet and services.

If Air France-KLM or Lufthansa wins, the European airline market could see more consolidation, with possible changes to alliances and route networks.

What Does This Mean for Airline Workers?

For employees at Air Europa and Turkish Airlines, the deal could bring both opportunities and challenges:

Job security: New investment may help protect jobs by making Air Europa stronger.
New training and skills: Closer ties with a major airline could mean new training programs and career paths.
Uncertainty: Any big change can create uncertainty, especially if it leads to changes in management or company culture.

Unions and worker groups will be watching closely to make sure employees’ interests are protected.

What Should Stakeholders Watch For?

Travelers: Look for announcements about new routes, better connections, or changes in ticket prices.

Employees: Stay informed about any changes to company structure, job roles, or benefits.

Investors: Watch for updates from Turkish Airlines, Air Europa, and Globalia about the progress of the deal and any financial details.

Regulators: Monitor statements from the CNMC and the European Commission about the review process and any conditions they might set.

Official Resources and Where to Get Updates

For the latest information, check these official sources:

These sites will provide updates on the bidding process, regulatory reviews, and any final announcements.

Practical Takeaways

Turkish Airlines is in early talks to buy about 20% of Air Europa.
Air France-KLM and Lufthansa are also bidding for the same minority stake.
Globalia wants to keep at least 51% of Air Europa to stay in control.
Binding bids are due in early July 2025, with a decision expected soon after.
Any deal will need approval from Spanish and EU competition authorities.
The outcome could change the way airlines work together in Spain and across Europe, affecting travelers, workers, and the market as a whole.

As reported by VisaVerge.com, this bidding war is not just about money—it’s about shaping the future of air travel in Europe. Whether Turkish Airlines, Air France-KLM, or Lufthansa wins, the effects will be felt by millions of travelers and thousands of workers.

Stay tuned for updates as the story develops. For now, travelers and industry watchers should keep an eye on official announcements and be ready for changes in the European airline landscape.

Learn Today

Minority stake → Ownership of less than 50% in a company, giving limited control but investment influence.
Codeshare agreement → Partnership where two airlines share the same flight, easing passenger connections across networks.
Binding bid → A final, legally binding financial offer submitted in a competitive sale process.
Regulatory review → Government evaluation of deals to ensure fair competition and compliance with laws.
Majority control → Owning 51% or more of a company’s shares, allowing control over decisions.

This Article in a Nutshell

Turkish Airlines aims to buy a 20% stake in Air Europa by July 2025, challenging rivals Air France-KLM and Lufthansa. This move could reshape Europe’s airline market, enhancing route options, competition, and investments while Globalia retains majority control, pending regulatory approval by Spanish and EU authorities.
— By VisaVerge.com