Fusiones y Adquisiciones

🚆 Turismo Social (Ávoris), January 2026, Spain: Railway chaos disrupts Imserso trips with speed reductions, line closures, and cancellations. Pensioners express concern, with some canceling vacations after the tragic Adamuz accident. AVE travel is now complicated, with routes like Valladolid to Santander described as outdated. Some trips switch from train to bus, extending travel times from a few hours to all-day road journeys. Pensioners without pre-arranged transport scramble for alternatives amidst ongoing train issues.

✈️ IAG aims for full control of TAP, beyond the 45% offered in the privatization process, with 4.9% for employees and 50.1% retained by the state. Competing with Lufthansa and Air France-KLM, IAG demands future control. Offers are due by April 2, with the winner announced next summer. TAP’s 45% stake is estimated at €700 million. Antitrust conditions by the EU's Directorate-General for Competition remain a concern.

✈️ GE Aerospace, 2024, detected a durability issue in the GE9X engine for Boeing 777X. Analysis underway, focusing on an internal seal. Despite this, Boeing CEO Kelly Ortberg still plans 777X deliveries by 2027. The program, delayed nearly six years, has cost over $15 billion. Flight tests in 2026 are limited; only 2 of 5 test planes have flown. Emirates, the main customer, has ordered 270 units.

📱 Canary Technologies has acquired OpenKey to enhance their digital guest experience solutions for hotels. Founded in 2014, OpenKey specializes in digital key technology. This acquisition aims to expand compatibility with various lock manufacturers, promoting mobile-first solutions and reducing reliance on physical key cards. The integrated platform will streamline digital access, communication, and personalization processes, addressing the increasing demand for seamless, digital-first hotel experiences globally.

📈 España y otros países europeos enfrentan una baja en reservas turísticas hacia el Caribe, principalmente por la intervención militar en Venezuela y amenazas de Donald Trump a destinos como Colombia, México, y Cuba. Un informe de Mabrian señala una caída del 7.6% en reservas desde Estados Unidos. La resiliencia de estos destinos será crucial para recuperar la demanda en un contexto de incertidumbre geopolítica que dependerá de futuras acciones de Trump.

🛩 Turkish Airlines aims to finalize the purchase of a 26% stake in Air Europa in the second half of this year. Vice President Sedat Orman confirms ongoing cooperation with authorities to secure approvals. The investment targets expanding Turkish Airlines' global reach via a dual hub strategy centered in Madrid and Istanbul, enhancing connectivity between Europe, Latin America, and Asia. Upon completion, Turkish Airlines plans to secure a seat on Air Europa’s board, pending operational and regulatory agreements.

🏨 Set Hotels has acquired Hotel Occidental Menorca, rebranded as Seth Punta Prima. Located in Punta Prima, Menorca, this 4-star hotel offers 374 rooms, restaurants, and leisure facilities. The acquisition boosts Set Hotels' presence on the island, aligning with their growth strategy focused on quality and sustainability. Currently, Set Hotels operates seven hotels, four villas, a country house, two restaurants, and a rooftop, all in Menorca.

💸 Besant Capital, a Mexican investment group, acquired the NH Collection Suecia hotel building in Madrid as part of a strategy to invest over €500 million in luxury real estate in the city's center. Located at Marqués de Riera 4, the property was formerly owned by a German pension fund managed by Feuring Hotelconsulting. The hotel, inaugurated in 1956 and featuring 123 rooms over 8,000 square meters, joins Besant’s recent purchase of the Zurich Building on Alcalá 44.

💰 Barceló is exploring a potential sale of Ávoris, as revealed at Fitur. Industry chatter at Ifema centers on who might acquire this giant. Focus is on industrial investors rather than financial funds due to the business model's low margins. Tui, MSC, and Hyatt are potential buyers, yet each has strategic hesitations. The sale's feasibility hinges on Ávoris' current financial credibility and potential improvements, with synergies being key to attracting buyers.

🛫 Ryanair's fiscal Q3 2025 profit fell 80% to €30 million from €149 million in 2024, due to a €256 million fine by Italy's AGCM. Excluding an €85 million provision for this fine, profit would be €115 million, still 22% lower. Revenue grew 9% to €3.21 billion; passenger traffic rose 6% to 47.5 million; ticket prices increased 4% to €44. CEO O’Leary forecasts annual profit of €2.13-2.23 billion, noting risks from geopolitical and economic factors.