Air France-KLM has reportedly made a €300 million offer for a 51% stake in Air Europa, according to Spanish newspaper El Confidencial.
The group offered to pay the Hildago family in exchange for their majority stake — held via Globalia — in the airline. The outlet reported that Air France-KLM will also assume the airline's outstanding roughly €475 million debt owed to the Spanish government. These debts were accrued during COVID to stay afloat.
Airline Economics has contacted Globalia for confirmation. Air France-KLM declined to comment.
EU Competition had previously ruled that British Airways owner International Airlines Group's (IAG) proposed takeover would be anti-competitive last year. It was reported that Lufthansa had also made a €240 million investment for a 25% stake in Air Europa.
Lufthansa had recently acquired a 41% stake in ITA Airways, which was finalised in January this year. During its full year earnings call, when asked about its potential interest in acquiring Air Europa and TAP Air, group CEO Carsten Spohr said: “The processes haven't even started. Nobody can do four things at a time, but there is no need to. We only have one right now called ITA.”
Air France-KLM said during its own full year earnings call that discussions on acquiring a stake in TAP Air were “positive”. The Portuguese government wanted to sell off a 49% share of the airline.