Fusiones y Adquisiciones

📍 International Airlines Group (IAG) will attend Air Europa's capital increase, despite the European Commission's rejection of the merger deal. Meeting the deadline set by Globalia for December 13, IAG's board plans to invest €80 million to maintain their 20% share, which would otherwise dilute to 17.7% next year. This move comes after the Hidalgo family injected €65 million via Globalia to avoid legal dissolution. The increase values Air Europa at €500 million, the same as when IAG first invested in January 2023. This is aimed at restoring the airline's equity after a €499.9 million deficit in 2023 and avoiding bankruptcy.

✈️ FAA administrator Mike Whitaker visited Boeing's Renton, Washington facilities and discovered production of the high-demand 737Max had not resumed a month after a staff strike ended, despite Spirit in Wichita continuing fuselage production. Boeing, now limited to 38 planes per month, restarted production on Monday 9th at a slow pace, focusing on safety procedures. Spirit, Boeing's main client undergoing a buyback, received $350 million from Boeing to stay operational, while Boeing won't reach the 38 monthly aircraft cap due to internal quality checks.

🚀 Air India ordered 100 new aircraft on Monday, including 90 from the Airbus A320 family and 10 A350s, adding to their previous year's order of 470 planes (250 from Airbus). Competitor IndiGo also purchased 500 Airbus planes, totaling 850 Airbus aircraft ordered by Indian carriers. The A350s will be powered by Rolls Royce engines, while the single-aisle jets will use CFM Leap engines. Air India's strategy focuses on domestic growth, signaling an economic boom in India akin to China's two decades ago.

✈️ Asterion, Spain's largest infrastructure fund, has created a €100 million leasing platform for aircraft. Partnering with Sigrun Partners, led by former Iberia and Vueling executive Eduardo García Sansigre, Asterion initiated the venture by leasing two wide-body aircraft to Air Europa and Asiana Airlines. The company targets 5-10 aircraft in the initial phase post their summer 2023 acquisition of 49% stake in 2I Aeroporti, valued at €500 million. Similar funds like Dunas Capital and Arcano have also engaged in the leasing business, indicating the sector's financial appeal.

🛫 Air Nostrum, led by Carlos Bertomeu, seeks to restructure loan repayments with SEPI and ICO, proposing a single maturity in 2028. The airline has over €111 million in SEPI loans and €133 million backed by ICO through banks. Initially, €30 million was due in 2026 and 2027 each, with €51 million in 2028. Despite a 11.7% growth in 2023, reaching €535 million in revenue, Air Nostrum's net profit was just €3 million, with a negative equity of €107 million. The firm has paid over €75 million in debt repayment and interest since 2021.

✈ Iberojet aims to grow in aircraft leasing to third parties, competing with Wamos Air, World2Fly, Plus Ultra, and Privilege in Spain. Due to global fleet shortages and manufacturers' delivery delays, this business line has become more profitable. Air Europa, impacted by fleet issues, has become Iberojet's major client, using its ACMI services for long-haul destinations. Iberojet, with seven planes including two A350-900s and six long-haul aircraft, plans to expand its fleet to meet market demands. They transported 2,500 tons of cargo from January to September, a 30% increase year-over-year.

✈ Aeroflot, Russia's state airline, is facing a severe spare parts crisis and has decided to purchase five Boeing 737 cargo model 800BCF to dismantle for parts for its fleet. This decision comes as 34 out of 66 A320 aircraft in Russia are grounded due to a lack of spare parts. The aircraft will be transferred to Pobeda, Aeroflot's low-cost subsidiary, after previous consideration of converting them to passenger planes was deemed too costly. Russian aviation is suffering, with many small and medium-sized airlines on the brink of bankruptcy and unable to repair their aircraft, intensifying the need to keep planes flying, especially in remote regions where air travel is often the only viable transport option.

🏨 The world's only IKEA hotel, located in Älmhult, Sweden, opened on August 22, 1964, as Motell IKEA with 25 rooms, a restaurant, and a pool. Today, after 60 years, it operates as IKEA Hotell with 250 rooms, 5 meeting rooms (one with a capacity of 80 people), a bar, sauna, gym, laundry, and lounges; the pool has been replaced by additional conference spaces, and the buffet is now Grillen culinary grill.

✈ Icelandair received its first Airbus A321LR on Tuesday, marking a strategic transformation and a shift from Boeing to Airbus due to a lack of a Boeing 757 replacement. The A321LR is a two-engine, single-aisle aircraft seating over 200 passengers, suitable for Icelandair's routes to Europe, Canada, and the USA. The airline leased four A321LRs, like the one introduced by TAP Portugal, and placed a firm order for 13 A321XLRs. The new aircraft, registered TF-IAA, flew from Hamburg to Keflavík Airport with 165 economy and 22 business class seats.

🏖 5vorFlug, previously part of FTI Group until late August, resumes operations in Spain from January, mainly in the Balearic and Canary Islands, now under new owner Urlaubsguru Touristik, a 'last minute' travel deals blog. Urlaubsguru Touristik is expanding as a holiday package wholesaler in 2025 to markets including Greece, Egypt, and Turkey. The German market operator specializes in 'lifestyle' travel, creating unique experiences combined with special travel offers. Director General, Daniel Frick, formerly of Urlaubsguru, aims to offer lifestyle hotels with unique travel experiences, adding destinations like New York and Miami to their portfolio. Despite the rebranding, the focus on lifestyle and community exchange remains. The sale is part of the liquidation of Europe's second-largest tourism group following FTI Group's insolvency on June 1.