Turkish Airlines is preparing one of the boldest steps in its global strategy, paving the way for Latin America. Turkey’s national airline has submitted a binding offer to acquire shares in Spain’s Air Europa, in a deal that – if completed – would be the first strategic acquisition of such a scale in its history.
This move, as company executives admit, is also being boosted by the growing popularity of Turkish TV series in Latin America, which have contributed to creating a positive image for Turkey in the region.
According to Turkish Airlines Chairman of the Board of Directors and Executive Committee, Ahmet Bolat, the cooperation with Air Europa will not be limited to connecting routes. It will include technical areas such as aircraft maintenance, new aircraft procurement, passenger loyalty programs, cabin design and seat manufacturing.
“Air Europa is a company that has attracted the interest of many European carriers. It mainly carries passengers to Latin and North America,” said Bolat, explaining the strategic value of the investment. “With a fleet of 53 aircraft and a presence in 30 countries, its culture and business model are very similar to ours. A strong synergy was created and we saw the opportunity for strategic cooperation. We submitted our offer,” he added.
He estimated that the process would be completed in the coming months. He also recalled that Turkish Airlines has previously developed strategic partnerships with companies such as Air Albania and Air Bosna, as well as revenue sharing agreements with Thai Airways, but none of them come close to the size or scope of the current agreement.
“This agreement will be different from our existing partnerships. In the future, we will continue to examine similar opportunities in Asia and North America,” Bolat noted.
The potential agreement with Air Europa is expected to strengthen Turkish Airlines’ access to Latin American markets, where air connectivity with Europe presents significant growth potential. At the same time, Air Europa, which is based in Spain, will benefit from Turkish Airlines’ extensive network, which covers more than 340 destinations worldwide.
