Air Europa and Iberia are working on a long process that should result in a merger into a new national airline giant. The roadmap managed by the IAG is to pass the permissions of the competition authorities to reach the end of the competition. 2022 to have a 20% stake in the competitor and control until the end of 2023 100% of the capital. As this entry process progresses, Air Europa is trying to restart flight offer and activity that it lost due to the cessation of the pandemic.
Air Europa will expand its route network this summer, up to 35 European and national destinations (three fewer than in the last pre-covid high season), and 20 destinations in Latin America and the United States (plus three fewer than in 2019). The airline of the Globalia group announced this Tuesday that routes from Madrid to Athens and Sicily will resume this summer, with two flights per week in June and July, respectively.
Air Europa highlights that it has expanded its presence in Europe this summer and consolidated the “u” expansion that the airline announced and launched last April.Significant increase in sales since the end of last year”on which re-enabling routes. The target set by the Globalia group company is to close the year in 2019 with the long-haul fleet it had before the pandemic and the same 23 destinations in the Americas.
Air Europa will also increase its fleet in the coming months. inclusion of eleven new companies The aircraft, six of which are Boeing 787 Dreamliners and five of which are Boeing 737s, is progressing in a process of fleet consolidation that allows “to increase the number of seats per aircraft, optimize the number of flights and increase both the tourist and travel offer. business class”.
After two years of soap opera, negotiations and renegotiations that were on the verge of breaking down several times last March, when the IAG and spherical They eventually reached a new transaction agreement, a kind of intermediate stage in the process that should have led to the merger of Iberia and Air Europa.
Both groups agreed that the Spanish-British holding company would provide Globalia with a loan of 100m euros with the option to convert up to 20% of Air Europa’s capital into a stake. The plans of the IAG (the holding company that creates the groups) Iberia, British Airways, Vueling, Aer Lingus and Level) is to control this 20% within six months and reach the end of next year by closing the total purchase and with 100% control of the competitor.
At the end of 2019, both companies agreed to acquire Air Europa. 1 billion €but a year later and in the middle of a pandemic, the price 500 million. Now the entire operation has been redesigned, giving it more time to restructure and manage to overcome the European Commission’s doubts about approving the union of both groups.