Turkish Airlines (THY), the national carrier of Turkey, announced that it is proceeding with a binding offer to acquire a minority stake in Spanish airline Air Europa.
The move, which was announced through a relevant announcement on the Istanbul Stock Exchange (Borsa Istanbul), is part of Turkish Airlines’ strategy to strengthen its presence in the European market and expand its access to Latin America.
According to the company, the decision was made following an extensive feasibility study and previous non-binding negotiations. The investment is considered fully aligned with Turkish Airlines’ long-term value creation goals set within the framework of its “2033” strategic vision.
This assessment is based on two main factors:
Network complementarity – Turkish Airlines’ global network and Air Europa’s strong presence in the Iberian Peninsula and Latin America, both in passenger and cargo, create – according to the company – a unique opportunity for accelerated growth in the Latin American market.
Leveraging synergies – The strategic partnership can create significant leverage across Turkish Airlines’ entire ecosystem, including its subsidiaries and joint ventures, with new revenue streams and enhanced geographical diversification of the business.
Madrid-based Air Europa is one of Spain’s key carriers and an important link between Europe and Latin America.
