- Spain has approved Turkish Airlines’ plan to acquire a significant minority stake in Air Europa.
- The deal involves a 300 million euro investment for approximately 26% to 27% of the Spanish carrier.
- Finalization is expected within 6 to 12 months pending further regulatory approvals and financial adjustments.
(SPAIN) — Spain approved Turkish Airlines’ plan to acquire a minority stake in Air Europa, clearing the way for a deal that would give the carrier an expected holding of 26% to 27% for 300 million euros.
Turkish Airlines said the transaction would close after required technical and financial adjustments and after it receives the necessary regulatory approvals.
The airline put the timeline for completion at 6 to 12 months, indicating that the approval from Spain does not by itself complete the transaction.
The planned investment centers on a minority stake rather than a full takeover. The expected shareholding, at 26% to 27%, would place Turkish Airlines in Air Europa’s capital without giving it full ownership.
At 300 million euros, the deal sets a stated value for that participation while leaving the final closing subject to adjustments. Turkish Airlines said those adjustments would be technical and financial.
Spain’s approval gives formal backing to the proposed investment, but Turkish Airlines made clear that other regulatory steps remain before the transaction can be completed. The company tied closing to those approvals as well as the final adjustments at closing.
The timeline of 6 to 12 months points to a process that will extend beyond the initial authorization. That period covers the remaining approvals and the work needed to finalize the transaction on the agreed terms.
Air Europa would gain a new shareholder under the plan, while Turkish Airlines would secure a minority position in the Spanish carrier. The structure of the deal, as described, keeps the investment below a controlling stake.
No further breakdown of governance changes accompanied the announcement, but the outline points to a strategic investment rather than an outright acquisition. The transaction, as presented, rests on the size of the minority stake, the 300 million euros valuation, and the remaining regulatory path.
Turkish Airlines said it expects the purchase to move ahead once the technical and financial adjustments are completed and approvals are in place, leaving the proposed Air Europa holding at 26% to 27% if the deal closes as planned within 6 to 12 months.
