Lufthansa Considers Acquiring Minority Stake in Air Europa
German airline giant Lufthansa is reportedly in discussions with Spanish carrier Air Europa to acquire a minority stake. Two anonymous sources familiar with the matter have confirmed the talks.
Air Europa, a subsidiary of Globalia, is seeking financial support to settle outstanding government-backed loans totaling €475 million, which were extended during the COVID-19 pandemic.
According to Spanish newspaper El Economista, Lufthansa is eyeing a 20% stake in Air Europa. Multiple sources have indicated that the talks revolve around a stake size in that range.
Air Europa and Lufthansa have remained tight-lipped on the matter, declining to comment. However, Globalia owner Air France-KLM has previously expressed interest in a 20% stake in the Spanish airline.
The development comes amid Lufthansa's efforts to expand its footprint in the European aviation market. The German flag carrier is a key player in the Star Alliance airline network.