Turkish Airlines presents a binding offer to acquire Air Europa 

Turkish Airlines has confirmed that it is submitting a binding offer to acquire Spanish airline Air Europa. 

The decision has been communicated in a public disclosure statement posted on Turkish Airlines’ website on August 8, 2025. 

In this statement, the Turkish flag carrier mentions the complementarity of both airlines’ networks (particularly Air Europa’s strong presence in the Latin American market), as well as the potential of both carriers and their respective subsidiaries and joint ventures to generate new revenue streams together. 

Privately-owned Air Europa attracted the interest of Europe’s major airline groups after a proposed acquisition by International Airlines Group (IAG) came under the scrutiny of the European competition authorities. 

The European Commission feared that a merger with IAG’s Iberia, Air Europa’s main competitor, would seriously reduce competition in key routes within Spain and between Spain and Latin America.  

In view of this opposition, IAG dropped the bid for Air Europa, despite already controlling 20% of its capital. However, once in play, the Spanish airline attracted the interest of other major airline groups. 

Air France-KLM made and later withdrew an offer for Air Europa. Lufthansa also assessed an acquisition of the Spanish airline but, in July 2025, refused to make an offer. 

Turkish Airlines has also been conducting due diligence on Air Europa and, on June 20, 2025, had already stated its interest in the Spanish airline in a public statement. 

Originally a charter airline, after the liberalization of the European airline market in the 1990s, Air Europa entered the scheduled air travel market and became Spain’s second largest airline, with a network that spans Europe and Latin America.  

In 2024, Air Europa carried a total of 12.2 million passengers. According to the ch-aviation database, as of August 2025, Air Europa has an all-Boeing fleet of 46 aircraft (18 B787-9s, 10 B787-8s, 17 B737-800s and one B737 MAX 8). It is also awaiting the delivery of five additional B787-9s and 28 B737 MAX 8s.  

Spain is a significant market for Turkish Airlines, which flies to five destinations in the country. Cirium SRS Analyzer shows how as of August 2025, the Turkish flag carrier is offering around 5,500 seats per day between its Istanbul hub and Barcelona (BCN), Madrid (MAD), Bilbao (BIO), Valencia (VLC) and Malaga (AGP). 

The post Turkish Airlines presents a binding offer to acquire Air Europa  appeared first on AeroTime.

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