Fusiones y Adquisiciones

🛫 The Italian Government halted the sale of a 41% stake in ITA Airways to Lufthansa due to a pricing dispute, with Lufthansa attempting to pay €10 million less than the €325 million initially agreed upon. The current pause in the process is not expected to alter its course, despite being the first incident in the acquisition process by the German airline, which has EU Commission approval.

🛩 Boeing, amid its latest major crisis, hopes to end a strike that started on September 13, halting production at its Seattle plant. The company has proposed a 38% salary increase over four years, with today being the decisive vote by employees. The strike has lasted seven weeks, affecting production of Boeing's most demanded model, the 737 MAX. The offer also includes a choice between a $12,000 bonus or a $7,000 bonus plus a $5,000 pension plan contribution. The International Association of Machinists and Aerospace Workers, with over 33,000 members, supports the offer. This is seen as Boeing's final bid as they face quarterly losses of $6 billion and financial instability risks. CEO Kelly Ortberg has communicated that this is their best offer, hinting at less generous future proposals if not accepted.

🌊 Grupo Barceló, a Spanish hospitality conglomerate, is in talks about purchasing a Nile cruise ship to cater to travelers booking through Ávoris tour operators. Investment in Egyptian cruises is deemed attractive despite regional conflicts and humanitarian crises. Spanish tourism to Egypt has surged with operators like Sama Travel and numerous charter flights to Luxor and Cairo. The opportunity aligns with strategies of other Spanish operators in Egypt, as reported by key industry sources to 'Preferente'.

💥 High-speed train services between Madrid and Valencia will be suspended for at least three weeks due to severe damage caused by the DANA. The Minister of Transport and Sustainable Mobility, Óscar Puente, reported that over a kilometer of track in the Chiva tunnel has collapsed, requiring complete replacement. Authorities are working on contingency plans to provide alternatives for affected travelers.

🚨 High-speed rail service between Madrid and Valencia suspended for up to four days due to severe DANA-induced floods causing "significant" damage, stated Transport Minister Óscar Puente. Rail operators Iryo and Ouigo have halted all operations on the affected route, while Renfe has canceled high-speed and long-distance services, without an official reopening date. Approximately 24,000 passengers have experienced delays and cancellations, with 11,400 affected today and 2,700 the previous day. Adif has closed the line for the entire day, and the Valencia-Barcelona connection remains suspended.

🌊 A passenger aboard a TAP Air Portugal flight recorded the disaster caused by the DANA in Valencia, showing extensive flooding. The aerial view revealed significant material damage and dozens of fatalities. Ángel Víctor Torres, Minister of Territorial Policy and Democratic Memory, announced the immediate declaration of a "Catastrophic Zone" by the Council of Ministers.

✈ Plus Ultra Líneas Aéreas to increase Madrid-Lima flights starting April 2025, with five weekly flights and six during summer. Additional flights added on Thursdays in April and Saturdays in July. Competitive fares from 339 euros for Madrid departures and from 439 dollars from Lima. The expansion aims to meet rising demand and boost travel and business opportunities between Spain and Peru.

✈ Iberia launches direct flights from Madrid to Tokyo today, departing from T4 at Barajas at 11:55, landing at Narita at 10:45 on October 28. The Airbus A350 with 352 passengers marks Spain's only direct connection to Japan. The new route aims to expand Iberia's presence in Asia, following successful daily flights to Doha since December 2023. The Tokyo route is Iberia's longest at 14 hours eastbound, operating three times weekly, with plans to increase frequency in 2025 and offering 90,000 seats in the first year.

🏖️ Canarias expects a record-breaking tourist winter with a 13% increase in air seat programming compared to 2023, totaling 30.4 million seats despite recent social unrest. The Middle East war has diverted tourism from Israel and Turkey to Canarias, mirroring the boost received during the Arab Spring of 2010. Temperatures range from 22 to 15 degrees, attracting German and British tourists. However, recent protests saw a drop from 57,000 participants in April to just 6,500, signaling a decrease in anti-tourism sentiment. Tourism accounts for 60% of Canarias' GDP and employment. Concerns rise over potential negative media impact on Canarias' image as a tourist destination following the protests.

✈ Lilium, a German group listed on the New York Stock Exchange, is facing financial collapse with both subsidiaries, Llilum Oberpfaffenhofen and Lilium eAircraft, in debt and under administration. Founded in Baviera in 2015 with 500 aerospace engineers, Lilium experienced a postponed electric aircraft flight and aims to start deliveries in 2026 with 780 orders. Saudia ordered 100 units, a Florida airline bought 20, and Lufthansa secured agreements. Public subsidies from France and Germany have not materialized, impeding private investment, as a crucial €100 million from Germany failed to arrive.