Fusiones y Adquisiciones

🛫 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.

📍 Javier Hidalgo aims to secure €240 million to eliminate a participatory loan while seeking more favorable bank credit terms than the previous SEPI loan of €235 million. Air Europa, part of Globalia, is exploring new partnerships, potentially offering a 20% stake to comply with EU airline ownership regulations. Interested parties include Air France-KLM, Lufthansa, Etihad, Delta, and investment funds, with advisement from PJT Bank. The capital increase initiative has garnered significant interest, according to CEO Jesús Nuño de la Rosa.

🏨 Hyatt Hotels Corporation targets 13 new markets in the EAME region (Europe, Africa, and Middle East) from 2025 to 2028, following growth in Europe with RevPAR up 12.1%, ADR increase of 5.8%, and occupancy rising by 3.8% in the first nine months of last year. In Spain, Hyatt's presence soared from 4 to 55 hotels, now encompassing over 14,500 rooms as of December 31, 2024. The company's portfolio has grown 90% since 2017, now exceeding 1,350 properties. Planned debuts include Estonia, Iceland, Romania, Cape Verde, and Mauritius, with an aim to add 50 new luxury and lifestyle hotels globally by 2026. Hyatt's European, African, and Middle Eastern portfolio includes over 200 hotels and 45,000 rooms across 40 countries, tripling its European room count since 2017.

💰 Late last year, MHG Continental Holdings attempted to delist Minor Hotels Europe & Americas, formerly NH Hotel Group, from Spanish stock exchanges in Madrid, Barcelona, Bilbao, and Valencia by launching an offer at €6.37 per share. The bid, complying with CNMV requirements, approximated the €6.4 per share Minor paid in 2018 for 94% of NH. The offered premium was 37.6% over the pre-announcement price of €4.63, totaling €114.8 million for the company valued at €2.775 billion. This second attempt follows a halted 2023 effort due to CNMV and independent advisors' opposition.

🛫 Global Airlines, with a single A380 purchased from China Southern, ambitiously planned routes from London to central United States. The airline has been preparing and showcasing the aircraft without confirming commercial service or a second plane for route operations. The A380 underwent preparation by HiFly in Portugal and maintenance in Dresden, Germany, and reached HiFly hangars in Beja, Portugal, for testing. James Asquith, the owner, emphasized the HiFly partnership but hasn't announced an operational start date, casting doubt on the airline’s future.

✈ Air Malta, the state airline of Malta, no longer operates flights but still incurs an annual expense of over €2 million for 51 employees. The airline ceased operations approximately a year ago, transferring assets to KM Malta Airlines, which will become operational in April 2024 with €350 million in aid from the Maltese government, approved by the European Commission. The country's finance minister, Clyde Caruana, disclosed these costs in response to a parliamentary question.

✈ Air Nostrum, previously a "saneada" company pre-Covid, returned to profit in 2022 and is up-to-date on all payments. It agreed with SEPI to repay the €111 million state rescue fund by 2028 instead of starting in 2026. The company also plans to focus on repaying €78 million remaining from the initial €133 million ICO-backed loans. From 2021 to 2024, Air Nostrum repaid €85.8 million in amortizations and interest to SEPI and banks.