Fusiones y Adquisiciones

🛫 Air Europa seeks partners to settle a debt due in 2026 by selling 20% of the company, without giving up control. Family Hidalgo, owning 80%, wants €240 million from the sale and a €235 million loan to pay off €475 million SEPI debt. Air France-KLM and Lufthansa are interested buyers, with Société Générale and PJT Partners as advisors. Negotiations stalled due to the Hidalgos' refusal to relinquish majority ownership.

✈ Tim Clark, Emirates' president, urges Airbus to reconsider restarting production of the A380, which ceased in March 2021. He suggests Airbus could create a new version of the superjumbo if airlines placed orders. Clark claims a modernized A380 could reduce fuel consumption by 25% and is vital for easing airport congestion. Emirates, owning 118 A380s and expecting to reach 123 soon, holds nearly half of the 251 A380s produced.

🎰 On January 31, Catalonia's Parliament passed a law revoking fiscal benefits granted in 2014 to the Hard Rock hotel and casino project in Vila-seca and Salou, with 72 votes in favor. The resort now faces a 55% gambling tax instead of the planned 10%, questioning its viability. An American Eagle plane with 64 on board collided with a Black Hawk helicopter over the Potomac River, with no survivors; an air traffic control error is under investigation. The EU is probing the legality of a €179 million fine imposed by Spain on airlines Ryanair, Vueling, EasyJet, Norwegian, and Volotea for charging extra for hand luggage and adjacent seat reservations, with Spain given ten weeks to respond.

📈 HBX Group, aiming for a stock market debut with a public offering in Madrid, Barcelona, Bilbao, and Valencia, plans to raise €725 million in new shares and sell €25 million in existing shares, totaling up to €750 million. Indicative price per share is set between €10.50 and €12.50 for a market capitalization of €2.66 to €3.03 billion. The final price will be determined after demand assessment by February 10, with trading expected to start on February 13, 2025. Current shareholders, including Canada Pension Plan Investment Board and funds managed by Cinven and EQT, will offer up to 2 million shares to qualified investors. BofA Securities will possibly buy up to 15% more shares within 30 days post-launch. HBX Group owns travel platforms like Hotelbeds, operates in over 170 countries.

✈️ Boeing confirmed Lufthansa will be the first airline to introduce the new 777X model, the largest twin-engine plane ever built. Initially expected to debut with Emirates, the launch was reassessed during Boeing's Q4 earnings call by CFO Brian West. Despite seat certification challenges for Lufthansa's orders, Boeing aims to deliver the first 777X in 2026. Lufthansa has ordered 27 units, while Emirates remains the largest buyer with 205 aircraft on order.

✈ Pakistan International Airlines (PIA) resumes direct flights to Barcelona following the lift of the European Union Aviation Safety Agency's (EASA) ban imposed in 2020. Flights from Islamabad, Lahore, and Sialkot to Barcelona, paused five years ago after a Karachi air crash raised safety concerns, are set to restart in the coming weeks. The ban had caused an estimated $150 million in annual losses. PIA recently announced its return to Paris and nearly faced bankruptcy at the end of 2023.

🛫 Airbus launched a cargo-only airline with Beluga aircraft just a year ago but recently announced the dismissal of 60 employees and the closure of all company activities. Despite not revealing the reasons for the decision, Airbus confirmed all new Beluga aircraft, indicated as XL, are in service. The company aimed to compete with Ukrainian Antonov in the special cargo transport market.

✈ Air Europa completed a capital increase three months ago to fulfill its financial commitments by the end of 2024. The company is now selling a portion of its capital to prepare for the repayment of a €620 million debt, resulting from COVID-19 aid, due in 2026 and 2028. The Hidalgo family, managing Air Europa, is seeking investors interested in a potential buyout, while IAG, a current stakeholder, is unlikely to remain passive amidst these developments. Please note that the original article provided does not include specific dates or locations beyond the years mentioned, and it mostly discusses the financial strategies and potential investor interests in Air Europa. The summary focuses on the clear facts presented regarding the company's financial actions and the ongoing search for investment or buyout.

🚂 Renfe aims to break SNCF's monopoly in France by bidding on Nantes-Bordeaux and Nantes-Lyon routes, part of France's TET system with a combined demand of one million annual travelers. Competing with private operator Le Train, Renfe criticizes the entry barriers in France, contrasting with SNCF's ease in Spain. Renfe, with over 620,000 international travelers served, seeks to expand, including a Paris connection via Lyon. French ministry to announce bid results soon; Renfe to discuss issues in the French Senate on January 29.

📌 The Imserso's Thermalism program might include destinations in France and Portugal in the next year, announced by its Director General Mayte Sancho at Fitur 2025, alongside ANBAL President Miguel Mirones. A working group will be formed to assess the initiative's viability, aiming to maximize benefits for Spanish spas and those in neighboring countries. The current edition starting February 1 offers 190,513 slots across 84 Spanish spas, with a €34 million investment and an estimated €115 million economic impact.