Miguel Praga

✈ HNA Aviation Group from China has shown interest in acquiring a stake in Air Europa, previously approached by IAG for 80% of shares. The deal with HNA would provide Air Europa a foothold in Europe, a goal pursued for over a decade. Air Europa, led by Javier Hidalgo, seeks to secure a partnership before summer to receive approximately €240 million through capital increase and a €235 million loan, aiming to repay a €475 million state bailout from SEPI. Air France-KLM and Lufthansa are also contenders, eyeing over 20% stake, contrary to the Hidalgos' preference to retain majority control.

🏦 Italian travel group Alpitour, which includes a tour operator, an airline, and several hotels, was up for sale by the Tamburi family, who own over 60% of the company. Andrea Rubén Levi holds approximately 36%. Despite considering a sale due to pandemic struggles, a significant revenue increase to €2.1 billion in 2024 made the sale less urgent. Tamburi did not sell but instead acquired up to 95% of the company after Levi received an offer from shipping giant MSC.

✈ Lufthansa's partnership with ITA Airways is likened to an adoption, set to formalize on January 13. ITA's loyalty program with 2.7 million members merges with Lufthansa's Miles & More, which has 36 million, achieving near-total integration from March 30. ITA travelers gain access to Lufthansa's 130 VIP lounges worldwide this summer, with immediate operational integration in Frankfurt and Munich. Code-sharing commences shortly, alongside schedule coordination in Frankfurt and Munich, benefitting Lufthansa. ITA will exit SkyTeam, home to Air France, on April 30 and join Star Alliance, where Lufthansa is a leading member, by early 2026.

✈ In Mallorca, a seasoned aviation manager noted the industry's irregularity and instability, highlighted by events like pandemics, fuel price hikes, wars, or aircraft model issues, like those faced by Wizz Air. Investing €10,000 in an airline's stock five years ago would result in a 60% loss today, valued at less than €4,000. This is exemplified by Easyjet, a top-performing European airline with all planes operational, yet still exemplifying the sector's volatility with a 60% value loss over five years.