Fusiones y Adquisiciones

🚀 Norse Atlantic Airways, struggling with market volume for its Boeing 787 Dreamliner fleet, leases 6-7 units possibly to Riyadh Airlines, under ACMI terms for 350 flight hours per month per aircraft. The potential contract extension could value the deal at $462 million. Norse previously dry-leased aircraft to Air Europa during the COVID recovery period.

🏦 Azulmarino, part of World2Meet (W2M), aims to expand in Madrid (from 12 to 20 agencies) and Barcelona (from 1 to 20 agencies) by 2025. Plans include growing in Andalusia by adding 30 to 40 locations, either owned or franchised. The search for locations will start in June to open them by January 2026. Azulmarino currently operates 185 sales points and doesn't intend to exceed 200 owned agencies.

📍 Jolidey brand's disappearance won't lead to layoffs, says Ávoris in a letter referencing no job losses despite Jolidey being absorbed by Travelplan on December 10. All Jolidey teams retained, with a dedicated Caribbean section on Travelplan's website. Existing commercial conditions and payment methods through Travelsens to remain unchanged, aiming to enhance the product offer and ease of service for clients.

🛩 Hungary Airlines, based in Budapest, has acquired 100 Boeing 737 Max aircraft. The deal was signed by CEO Duan Bo and Boeing in China. The airline's strategy is unclear as the 737 Max's range only covers Western China, which has limited commercial value in Europe. Additionally, the Hungarian market alone may not justify the fleet size, suggesting a potential hub strategy for European flights. Regulatory challenges include disguising 51% of the airline's capital to appear European. ????️

🛫 Lufthansa gains EU approval to acquire 41% of ITA Airways, with IAG, Air France-KLM handling long-haul and Easyjet short to medium flights. The transaction, set for January 2025, follows an EU Commission agreement reached on November 30, 2023, and a conditional green light on July 3, completing a scrupulous process.

🛫 Air Europa set a deadline for Iberia until December 13 to join a capital increase. If Iberia does not participate, it risks diluting its current 20% stake. The Hidalgo family recently injected €65 million through Globalia to prevent Air Europa's legal dissolution. This move aims to ensure growth amid market instability, as per Globalia's president Juan José Hidalgo. Iberia is yet to decide on the investment, weighing it on financial criteria, while Air Europa reports strong operational performance for 2024.

🚀 Pakistan International Airlines (PIA), struggling with a $3 billion debt and annual losses of $270 million, failed to sell at an auction in October. The government's initial sale price was $306 million, but the highest bid received was only $36 million. Privatization Minister Abdul Aleem Khan is now offering a second auction with an additional incentive of $95 million in tax exemptions for buyers. Further fiscal benefits are hinted, contingent on the potential buyers' plans for the airline. Despite losses, the government retains hope in PIA's profitability, as unspecified Gulf companies show interest.

✈ Air Europa's majority owners, the Hidalgo family (80%), are in talks to sell up to 20% of the company to Air France-KLM, a deal that could surpass €100 million, exceeding the amount paid by IAG during the pandemic. The Spanish airline reported a record profit of €165 million in 2023, despite a consolidated negative net worth of €455.3 million at year's end. The Hidalgo family had previously injected €65 million into the airline to prevent its dissolution.

🏬 Ontario teachers' pension fund in Canada is selling its shares in several airports including London City, Birmingham, Bristol, Copenhagen, and Brussels, with ownership stakes ranging from 25% to 70%. They're leveraging the current aviation boom and have offered existing stakeholders a 30-day preferential purchase period, with Australian fund Macquarie showing strong interest. Meanwhile, Canadian fund PSP is buying Ferrovial's majority stakes in Aberdeen, Glasgow, and Southampton airports, in contrast to the Ontario fund's divestment.

🚀 China Southern, one of China's three major state-owned airlines, has listed all of its GEenx-1B engine-equipped Boeing 787-8s for sale. The offer requires the purchase of the entire fleet, not parts. The oldest aircraft dates back to May 2013. Interested parties needed to express interest before this Monday, and a condition report for each aircraft will be available on the 30th. China Southern owns a total of 650 aircraft but seeks to standardize its fleet, choosing to retain its 18 Boeing 787-9s. The 787-8 model has recently seen one aircraft be dismantled, highlighting the high value of spare parts amid manufacturing delays. In comparison, Air Europa operates 23 Boeing 787s, including both 787-9 and 787-8, without issues.