Spain Approves Turkish Airlines' Acquisition of 27% Stake in Air Europa

en.Wedoany.com Reported - Turkish Airlines' plan to acquire a stake in Spain's Air Europa has received approval from the Spanish government. The company stated in an exchange filing that Spain has approved the direct investment from Turkey, with the equity acquisition expected to be completed in 2026. Other regulatory approvals related to this equity transaction are still in progress.

Turkish Airlines secured the stake in Air Europa in 2025 after beating competitors Lufthansa and Air France-KLM. Under the deal, Turkish Airlines will invest approximately 300 million euros in the Spanish carrier, acquiring between 25% and 27% of its shares. The majority of Air Europa's shares are held by Spain's Globalia Group, while another 20% is held by International Airlines Group (IAG), which previously abandoned its own acquisition attempt due to regulatory hurdles.

Driven by its new core shareholder Turkish Airlines, Air Europa has begun adjusting and expanding its intercontinental fleet. The company signed a letter of intent with Airbus at the 2025 Dubai Airshow to acquire up to 40 A350-900 aircraft. Air Europa President Juan Jose Hidalgo described the A350-900 as a "game changer for key destinations in Latin America," a market Turkish Airlines aims to expand into by leveraging Air Europa's route network.

This A350 procurement plan marks a shift in Air Europa's fleet policy. The company previously operated long-haul routes using 29 Boeing 787-8 and 787-9 aircraft.

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