Fusiones y Adquisiciones

🛫 American Airlines' stock value dropped this Tuesday after a brief worldwide fleet halt on one of the busiest air travel days in the US. The issue, caused by a technical problem related to a supplier, was resolved within an hour. The suspension was initially requested from the FAA but was then retracted. The US anticipates 40 million air trips during the holiday period ending January 2, with peak demand on December 20 and 27, and significant traveler numbers also on December 24.

🚀 Malaysia Airlines replaced its old fleet with brand-new Airbus 330 equipped with Rolls Royce Trent 7000 engines. On December 19, the newest aircraft suffered an engine failure on its inaugural flight from Kuala Lumpur to Melbourne, leading to grounding. The airline identified three types of issues, citing poorly done factory work as a factor. The delivery was delayed by 15 days due to factory problems, including hydraulic system dysfunctions. The airline expressed concern over reputational damage and economic impact during a commercially significant period. Rolls Royce and Airbus have been asked for explanations, with no comments from Airbus yet.

🏖️ Hyatt Hotels Corporation has entered into an exclusive agreement to negotiate potential strategic alternatives with Playa Hotels & Resorts N.V., which may include Hyatt's acquisition of Playa. Mark S. Hoplamazian, Hyatt's President and CEO, emphasizes Playa's strength in high-quality all-inclusive resort operations and their premium portfolio in the Caribbean and Mexico. No transactions are guaranteed from these exclusive talks, and Hyatt has reported a 9.99% ownership of Playa's outstanding shares to the U.S. Securities and Exchange Commission as required by federal law. Further comments will be reserved until a definitive agreement is fully executed.

🚀 Etihad Airways retires the last of ten stored Airbus A380s in Teruel, with seven now in service, flying to Paris, New York, Singapore, and London. This marks the end of a seven-year partnership with TARMAC Aerosave, who maintained over 30 of Etihad's aircraft. TARMAC's next project involves two Air France A380s stored in Tarbes, southern France.

💸 Volotea's negative working capital worsened to -€240.18 million in 2023, a deterioration of €105 million from -€135.18 million in 2022. The airline's liquidity ratio also declined to 0.43, with current assets at €184.6 million against current liabilities of €424.8 million. On November 12, Volotea delayed a €36.2 million payment to SEPI and banks for a state bailout of €200 million and an ICO-backed loan of €150 million. The airline reported a net worth hole of €423 million in 2023, up from €316 million in 2022 and €159.9 million in 2021, marking its fifth consecutive year of losses, totaling €97.5 million for 2023.

🚀 IAG’s venture with Air Europa cost €241 million, with €125 million paid as compensation to the Hidalgo family for not acquiring their company. IAG spent €100 million to purchase 20% of Air Europa and another €16 million to maintain its stake amid a capital increase. Despite not recovering €125 million, IAG's CEO Luis Gallego sees the 20% stake as a positive financial investment, suggesting its current value is 30% higher than at acquisition.

✈ Air Tanzania, with a fleet of three Dreamliners, four A220s, and two 737Max planes, has been banned from European airspace due to insufficiently reliable operational procedures as per the EU's Aviation Safety Agency (EASA). The airline was added to a list of approximately 130 airlines restricted from the continent, following the recent removal of Pakistan International Airlines from the same list. The decision was made on Friday 13, in response to Tanzania's request to initiate flights to Europe. European technicians are set to visit Tanzania to conduct on-site checks. Air Tanzania's spokesperson, Gerson Msigwa, has expressed ongoing discussions for slots and necessary licenses. The ban was unanimously agreed upon by the safety expert committee.

✈ Lufthansa's acquisition of Ita, the new Alitalia, led to route concessions due to EU market dominance concerns. Easyjet capitalizes most, dedicating eight aircraft to new slots. Vueling also benefits; starting April, it connects Florence with Brussels Zaventem on Tuesdays, Thursdays, and Saturdays. Air France gains, while Brussels Airlines, part of the Lufthansa Group, cannot take over vacated routes. Ryanair sticks to organic growth, focusing on Orio al Serio, Malpensa, and Bologna.

🏦 MHG Continental Holdings, part of Thai group Minor International, offers €6.37 per share to take the remaining 4.135% of Minor Hotels Europe & Americas (formerly NH Hotel Group) off the Spanish stock exchanges of Madrid, Barcelona, Bilbao, and Valencia. The buyout targets the small float of 18.017.448 shares, as MHEA has 55,529 rooms across 352 hotels. An extraordinary shareholders' meeting is called for January 20, 2025, to approve the delisting. MHG already holds 95.865% of MHEA capital. The CNMV must authorize the offer.

🚀 Boeing employees ended their strike a month ago, returning to facilities in Washington and California. However, Boeing began layoffs in parallel, cutting 17,000 positions. Recently, about 400 workers in Renton and over 500 in California received severance packages. CEO Kelly Ortberg stated the layoffs are due to past overstaffing, not the strike. Laid-off workers will receive two additional months of salary, severance, job retraining, and three months of healthcare post-departure. Boeing's financial situation remains dire, with a history of challenges since 2018.