Miguel Praga

🏩 Juan José Hidalgo, presidente de Globalia, expressed joy over the failed acquisition of Air Europa by Iberia, which he sees as beneficial for competition in Spain and specifically Madrid. The nearly five-year negotiation concluded without a deal, which Hidalgo believes will save Spanish citizens money. He promises Air Europa will continue to compete with IAG, who has received government support. Hidalgo states Air Europa will repay its ICO loan soon, holds over €250 million in bank funds, and plans to renew its fleet, including adding 787-900 aircraft and updating 737-800s, forecasting the repayment of SEPI debt within two to three years.

🛫 Grupo Abra and Spanish airline Volotea terminated their agreement on June 25 to acquire Air Europa routes from IAG, after Iberia informed the European Commission it would not purchase Air Europa. Volotea, led by Carlos Muñoz, aimed to establish a strong base in Madrid, serving over 130 destinations in Latin America and the Caribbean, plus 20 in Europe starting in the first quarter of 2025. The deal's collapse forces Volotea to continue its growth organically through new aircraft and routes.

✈️ Iberia's potential failure to acquire Air Europa may soon be confirmed due to European Commission obstacles. The failed integration could significantly impact the Spanish economy, including a potential €50 million indemnity to the Hidalgo family. Barajas Airport's hub stature is at risk, threatening Spain's business competitiveness and tourism, which accounts for 15.2% of the GDP. Paris leads with 139 intercontinental destinations, while Madrid has 80, aiming for 100. IAG's thwarted plans included 850-1,000 new flight combinations, job creation (1,250-1,800 positions), a €30 million annual increase in Madrid Airport's revenue, and an additional 16,000 tonnes of cargo traffic.

✈ Airbus, the world's largest airplane manufacturer, reported profits in the first six months of the year but saw a 50% decline compared to the same period last year, with 989 million euros counted as expenses by Space Systems subsidiary. Excluding this, Airbus's profits were slightly lower than two billion dollars, contrasting with Boeing's losses. Sales rose by 4% to 28.800 million euros. CEO Guillaume Faury cited space business variations and supply chain issues affecting deliveries, with 327 orders received and 8,585 aircraft pending delivery.