Fusiones y Adquisiciones

📦 Boeing, once the world's leading aircraft manufacturer, returned from the Paris Air Show in June 2025 without selling a single plane over the event's five days. In contrast, Airbus sold 394 planes. Embraer, a Brazilian manufacturer, sold 216 aircraft, while ATR sold 25 units in the U.S. Boeing's lack of sales was partly due to announcing the sale of 303 aircraft during Donald Trump's Middle East trip in May 2025.

🛫 Etihad Airways exits Air Europa bid, leaving Lufthansa, Air France-KLM, and Turkish Airlines as contenders. Their binding offers are due by early July. Negotiations are stalled as Air France and Lufthansa seek over 29% of Air Europa, while Globalia wants to retain 51% control. Air Europa's valuation at €1 billion is deemed high, affecting talks, alongside alleged issues with state rescue funds. IAG currently holds a 20% stake.

✈️ Iberia, through its Plan de Vuelo 2030, aims for annual profitability of 13.5%-15%, investing €6 billion. 70% of this goes to fleet modernization, increasing wide-body jets from 45 to approximately 70, introducing A350, A321XLR, and possibly A330neo models. New destinations include Toronto, Philadelphia, and Monterrey. All long-haul cabins will be upgraded, and narrow-body planes will have more luggage space. Iberia plans to hire 1,000 employees annually and relocate to La Muñoza, enhancing facilities.

🏨 Millenium Hospitality Real Estate sold Fairmont La Hacienda in Cádiz, including golf courses, for €175 million to Flame Hotel and Golf Holding and Equity, managed by Activum. Despite being listed for €200 million in 2024, adjustments reduced the price to €170.16 million. Opened in February, it features 306 rooms, 47 villas, and a 1,800m² spa. The sale aims for a luxury-focused portfolio, proposing a €167.5 million dividend. The 50,009m² parcel, valued at €13.452 million, remains unsold.

🛫 Ávoris strengthens its travel agency network by acquiring Marina Sur, based on the Costa del Sol. Marina Sur specializes in cruises and has over 35 years of experience. It currently has offices in Fuengirola and Benalmádena, previously expanding to Marbella, San Pedro Alcántara, Estepona, and Málaga. Ávoris recently acquired Dit Gestión, with 800 independent sales points, a deal approved by the CNMC in February after a three-month review.

✈️ Global Airlines, led by James Asquith, faces media speculation about its closure after just four flights with their sole Airbus A380, operating at less than 20% capacity. Despite claims of success by the company, industry experts doubt its viability as a regular airline and criticize its product competitiveness. Asquith denies changing the business plan or becoming an ACMI operator, insisting they aim to become a regular airline despite current obstacles.

🚢 Naviera Armas faces a critical financial crisis, with a €50 million debt due by June 30. Moody's downgraded its rating to 'CCC' due to liquidity issues. DFDS is set to buy its Strait routes, generating 60% of operational results, for around €300 million. This deal, involving over 1.5 million summer passengers, surpasses Baleària’s offer. Control lies with JPMorgan, Barings, Cheney Capital, and Bain (94%), while Armas family retains 6%.

💸 Ávoris, owner of Halcón Viajes and B travel, has stopped offering large discounts before the summer season. Halcón previously provided discounts up to €800 per booking, while B travel offered 15% off. This strategic shift is not due to excess demand, as confirmed by Barceló. Meanwhile, rival Viajes El Corte Inglés continues its low-price campaign with discounts up to 60% and incentives up to €400. Sales have surged since May, indicating a strong summer compared to 2024.

🏨 Mazabi acquired a luxury hotel in Monte Igueldo, San Sebastián, marking their 17th hotel asset valued over €400 million. Managed by Luze Hoteles as Luze Boutique San Sebastián, it features 42 rooms, an infinity pool, wellness zone, 9,000 m² gardens, and a restaurant by chef Iñigo Lavado. The acquisition aligns with Mazabi's strategy to diversify assets across Spain, with plans to rotate hotels in Córdoba, Cádiz, Madrid, and Castilla y León in 2024-2025 for €60 million.

🛩 Iberia owns 20% of Air Europa and plans to invest more in a capital increase. Lufthansa and Etihad are potential buyers for a minority stake, with Air France-KLM and Turkish also contenders. Air Europa's modern Boeing 787 Dreamliner fleet is appealing, amid limited deliveries. Lufthansa could focus on Madrid-America routes; Etihad might prioritize Asia. Iberia might favor Etihad, aligning with IAG's strategy, as it expands in underserved Latin American regions.