Fusiones y Adquisiciones

💰 Globalia, owner of Air Europa, and Soho Boutique in Málaga, secured bank loans to settle SEPI debts. The positive performance over the past three years restored bank confidence, enabling better financing terms than the initial SEPI pandemic agreements. Air Europa negotiates with Santander, BBVA, Caixabank, and Sabadell; Soho finalized with Santander, Cajamar, Unicaja, Ibercaja, and Banco CBNK. In mid-June, Hesperia announced early SEPI loan repayment, following other rescued tourism companies.

✈️ International Airlines Group (IAG) reported a net profit of €1,301 million for January to June, a 43.8% increase from the previous year. Revenue rose by 8% to €15,906 million. IAG carried 57.8 million passengers, down 0.7%, while passenger revenue increased to €13,771 million. Iberia's profit before exceptions was €564 million, up 200%. IAG's capacity grew 2.7%, and it has 230 aircraft orders. The group's staff averaged 75,429 people, 3.6% more than the previous year.

🛫 IAG assigned 50 Boeing 737s to Vueling, with delivery starting in late 2026. Vueling has options for 100 more. In November 2024, Vueling resolved pilot disputes, reactivating fleet expansion. Currently, Vueling operates 130 Airbus A320s, adding five in early 2025. Vueling will announce its future growth strategy soon.

🚀 IAG reports a net profit of €1.301 billion for the first half of 2025, marking a 43.8% year-on-year increase. Revenue hits €15.906 billion, up 8%. CEO Luis Gallego attributes success to resilient travel demand and ongoing transformation. Focusing on market-leading brands and key regions, IAG invests in fleet and technology. Despite "some weakness" in U.S. economy class leisure travel, overall demand remains strong. As of July 29, 57% of bookings for the second half are secured.

🛫 Etihad and Turkish Airlines are competing to acquire a 25% stake in Air Europa, currently owned by Globalia's Hidalgo family. Javier Hidalgo is managing negotiations from Istanbul, favoring Turkish Airlines. The deal maintains control for the Hidalgos while addressing debts. The decision is imminent, with French and German offers lagging behind. Meetings in Abu Dhabi with ADQ, Etihad's owners, have explored their potential involvement. Juan José Hidalgo remains informed from Estepona.

✈ Air Europa is negotiating with Santander, BBVA, Caixabank, and Sabadell for a €130M credit line to repay a €235M state rescue loan. The remaining €240M will be covered by partial company sales, with interested buyers including Turkish Airlines, Lufthansa, and Air France-KLM. In 2025, Air Europa aims for over €3B in revenue and a €120M gross profit, a historic high. Simultaneously, they explore debt funds like CVC Capital Partners if bank terms are unfavorable.

🚩 Ávoris' pricing strategy, as of December 2024, causes unrest among travel agencies. The company favors direct channels by offering Iberojet's travel packages with over €100 discounts compared to independent agents' prices. Agencies, like Travelplan, struggle to match these lower prices. Despite claims of support for agency channels, direct sales strategies to maximize profits are prevalent in the tourism sector, affecting hotels, airlines, and more.

🛩️ Turkish Airlines gains an edge in the race to invest in Air Europa, favored by the Hidalgo family over Lufthansa and Air France. Javier Hidalgo, leading the sale, values Turkish's offer of a minority stake for €240 million, intended to repay the state rescue loan. Turkish proposes adding 12 Airbus A330neo to Air Europa's operations. Lufthansa is actively pursuing a binding offer, while Air France-KLM's bid falls short of expectations. The sale aims to conclude by September.

✈️ En 2025, la competencia en turoperación creció con un enfoque en Caribe, Oriente Medio y Asia. En julio, cntravel, un mayorista gallego, inauguró su división de Grandes Viajes en India. Próximos destinos: China y Vietnam. Politours se enfoca en Asia Central, mientras que Catai reporta recuperación post-COVID en China y Japón. Cinco Estrellas Club aumentó un 42% en grupos gracias a Asia y América. En otoño-invierno, Soltour introduce nuevos destinos como Oporto, Madeira y Isla de Sal.

✈ Air Nostrum ended 2024 with a €3.3 million pre-tax loss due to pandemic-related debt. Despite this, operational profit reached €8.3 million. The airline repaid €55 million in loans, €31 million in interest, and spent €17.7 million on EU emission rights, up 10% from 2023. With a record 81.5% occupancy, Air Nostrum carried 5.5 million passengers, a 15% increase, and operated 79,473 flights, an 11.5% rise.