Fusiones y Adquisiciones

✈️ Korean Air, March 2025: South Korea. Korean Air, primarily operating Boeing aircraft, announced the purchase of 103 additional Boeing planes, including 50 737 Max 10s, 25 Dreamliners, and 20 777Xs. This follows a previous order of 50 aircraft in March, comprising 30 Dreamliners and 20 777Xs. The acquisition aligns with Korean Air's fleet expansion post-Asiana Airlines merger, underscoring Boeing's market resilience despite certification pending for some models.

💸 Apollo Global Management is selling the Ocean House in Torremolinos, Costa del Sol, for around €80 million. Initially acquired in 2020 and franchised to Meliá Hotels International, the hotel was rebranded in February 2023. It features 370+ rooms, five pools, and event spaces. Apollo's Spanish hotel portfolio, including properties in Mallorca, Tenerife, and Ibiza, is valued at approximately €300 million, aligning with their asset rotation strategy.

🛳️ Baleària, led by Adolfo Utor, has acquired Armas Trasmediterranea for €210 million, surpassing a local Canary Islands bid by over €50 million. This acquisition includes 15 ferries, 1,500 employees, and control of crucial routes between the Canary Islands, Alboran, and part of the Strait. Despite debt from JP Morgan, Barings, Cheyne Capital, and Bain Capital, Utor's political ties may face challenges if Spain's political landscape shifts, with competition authorities scrutinizing the process.

✈ Turkish Airlines will acquire 26% of Air Europa for €300 million. Juan José Hidalgo, President of Globalia and Air Europa, highlights the strategic partnership since Turkish Airlines expressed strong interest. The deal, expected to enhance Air Europa's growth through fleet synergies, includes Dreamliner 787s. Hidalgo affirms the acquisition will benefit Spain, the Balearics, and Europe's aviation sector, ensuring a solid, prosperous future for the Spanish airline.

🛫 Portugal, 2025: The government initiates a 60-day period for partial privatization of TAP, aiming to sell 49.9% of shares while retaining control. This move seeks to recover part of the €3.2 billion public funding. Potential buyers include IAG, Lufthansa, and Air France-KLM. The plan reserves 5% of shares for TAP employees, with a maximum timeline of one year divided into four phases, starting with non-binding offers.

🛩 Lufthansa, Air France-KLM, and others are challenging Turkish Airlines' proposed acquisition of a 26%-27% stake in Air Europa for €300 million. Concerns stem from Turkish Airlines' potential competitive advantage due to state subsidies and its fleet of nearly 500 aircraft. Critics argue the deal could hinder European airlines, leveraging Madrid's Barajas hub for growth. They hope the EU will block the acquisition and consider filing formal complaints.

🛫 Turkish Airlines is set to acquire a 26% stake in Air Europa for €300 million. Pending approval from competition authorities, this partnership grants Air Europa preferential access to Boeing and Airbus. Turkish Airlines operates a fleet of 495 aircraft, while Air Europa totals 57. Air Europa faces challenges in expanding its long-haul fleet, relying on wet leases from Iberojet, Wamos, and Privilege. The deal aligns with Air Europa's strategic conditions laid by President Juan José Hidalgo.

✈ Turkish Airlines plans to invest in Air Europa within 12 months. They currently serve 26 American destinations from Istanbul, while Air Europa flies to 22, primarily in Latin America. Nine destinations overlap, including New York and Buenos Aires. Turkish aims to expand into 13 additional destinations. An agreement includes adding 12 Airbus A330neo jets to Air Europa's fleet, with each airline contributing six planes, enhancing operations at Madrid's Barajas hub.

✈ Turkish Airlines plans to invest 300 million euros in Air Europa, with approval confirmed on August 19. The acquisition covers 26-27% of shares, primarily through capital expansion. Completion is expected within 6-12 months, pending regulatory approvals. Turkish Airlines will loan 275 million euros to Air Europa until authorization. This move aims to strengthen Turkish Airlines' global presence, especially in Latin America, making it Air Europa's second-largest shareholder after Globalia.

💻 Perplexity, valued at $18 billion, proposes a $34.5 billion offer to acquire Google Chrome, used by over 3.5 billion globally. While unlikely, it highlights potential shifts in digital marketing if an AI company controlled the browser. Chrome's control could transform travel planning, bypassing traditional search engines and OTAs. Perplexity raised only $1.5 billion, hinting at a PR strategy amid Google's antitrust challenges. The future digital landscape demands adaptation for AI-driven searches in the travel industry.