Fusiones y Adquisiciones

📌 Travel agencies implicated in an infringement procedure by Spain's National Commission on Markets and Competition (CNMC) received no notifications throughout 2024. The CNMC initiated the sanctioning file in late 2023 with a two-year deadline to issue a verdict. Agencies involved include Ávoris, Viajes El Corte Inglés, Nautalia, and IAG7 Viajes, all maintaining their innocence. The CNMC investigation focused on the CORA public tender for managing the Spanish government's centralized travel services, specifically a potential allocation of different lots. Inspections were conducted from March 28 to 31, 2023, leading to the procedural opening in November. Potential fines could reach up to 10% of the implicated companies' total business volume.

🚀 Easyjet Plus for Business launched, targeting corporate travel in Europe. Companies can buy up to 250 memberships at discounted rates. Membership costs £249/year, offering priority boarding, free earlier flight changes, fast track security, special seating, and baggage privileges, resembling legacy airline services. Easyjet's network serves major European airports, catering to business travelers, while also catering to holiday travelers with a different product focus. Few low-cost airlines offer loyalty programs like this business-oriented scheme.

📊 HBX Group set a 11.5 euros per share indicative price for its IPO, aiming for a market capitalization of 2.784 billion euros as trading starts on February 13. The IPO includes two tranches: raising 725 million euros through 58-69 million new shares and selling up to 25 million existing shares by investors like CPPIB, Cinven, and EQT. Over-allotment option could raise the offer to 862.5 million euros. Funds will reduce debt, lowering leverage from 3.2 to 2.5 times Ebitda by fiscal year-end 2024.

💸 A Binter Embraer E195 encountered an electrical system issue after departing from Adolfo Suárez Madrid-Barajas Airport bound for Tenerife. The crew urgently requested to return, receiving clearance for a continuous descent and priority approach to runway 32L – Madrid's hub longest runway. Air traffic controllers on account X reported the activation of airport emergency teams, rerouting incoming traffic to runway 32R until the situation was resolved, concluding with a safe landing under firefighter supervision.

🏠 B travel surpasses 150 franchised travel agencies in Spain with an average growth of 10% in recent years. Its parent company Ávoris considers this a reflection of a successful, highly profitable business model. The group, a leader with over two thousand sales points between owned, franchised, and associated agencies, aims to maintain this growth in 2025 by consolidating the current network and encouraging new openings. Ávoris, owned by Barceló, faces strong competition from established brands like Viajes Carrefour, Zafiro Tours, Nautalia, and newcomers Azulmarino and Pangea.

✈ Ryanair aims to be the first airline to resume flights to Ukraine upon ceasefire agreement, targeting the cities of Kyiv and Lviv. CEO Michael O'Leary reveals readiness to reactivate air connections potentially within weeks. Plans include redirecting five aircraft from across Europe, with the possibility of flying from up to 25 cities, including the UK, to cater to around 14 million Ukrainians across Europe.

✈ China Airlines, Taiwan's leading airline, had an excellent year in 2024, resulting in a bonus for employees consisting of a fixed $4,276 (145,000 Taiwanese dollars) plus a variable 6.6 months of salary. The company also informed staff about a 3% salary increase. Other airlines like Eva Air and Starlux offer six and three months of salary as bonuses, respectively, with a 3% annual raise. Singapore Airlines and Emirates granted eight and five months of bonuses, highlighting a distinct cultural approach compared to Europe.

✈ HNA Aviation Group from China has shown interest in acquiring a stake in Air Europa, previously approached by IAG for 80% of shares. The deal with HNA would provide Air Europa a foothold in Europe, a goal pursued for over a decade. Air Europa, led by Javier Hidalgo, seeks to secure a partnership before summer to receive approximately €240 million through capital increase and a €235 million loan, aiming to repay a €475 million state bailout from SEPI. Air France-KLM and Lufthansa are also contenders, eyeing over 20% stake, contrary to the Hidalgos' preference to retain majority control.

🛫 A Lufthansa Boeing 747, flying from Miami to Frankfurt, diverted to Montreal after a pilot became incapacitated at 35,000 feet. The aircraft changed course near Gander, Canada, with the second pilot taking over. Two flight attendants attended to the main pilot in the crew rest area. The plane released fuel before landing safely and remained in Canada for two days before proceeding to Frankfurt.

🏨 Aena to invest over €1,000 million in Canary Islands airports for modernization during 2027-2031, focusing on Tenerife Sur, Tenerife Norte, and Lanzarote. This "historic" investment exceeds the €300 million in the current DORA. Plans include integrating the island's two terminals, and projects will be drafted between the first half of the year and the end of the year to start tender procedures, with Tenerife Sur being the furthest along. Canarian President Fernando Clavijo and Aena chief Maurici Lucena view this venture positively, addressing the archipelago's call for more influence in airport-related decisions, aligning with the Autonomy Statute's provisions.