Fusiones y Adquisiciones

✈️ Air Europa, Spain's fifth-largest and Madrid's second-largest airline in capacity and routes, abandoned a merger with Iberia after IAG withdrew its acquisition attempt on August 1, due to the European Directorate-General for Competition's high demands. The two largest Spanish operators, with significant overlap on 72% (39 of 53) of their routes, including 14 national and 25 international, now compete head-to-head. Mundiplan, launching its second tourism season for seniors, now offers international outings across four continents: Europe, Africa, South America, and Asia. Ryanair was ordered by the European Commission to repay Germany approximately €14 million for receiving illegal state aid through the Frankfurt-Hahn Airport, which must also return €1.25 million.

✈ The Hidalgo family, major shareholders of Air Europa, are pursuing a capital increase to prevent bankruptcy following a failed partnership with Iberia. Air Europa faced a fund deficit of €499.9 million at the end of 2023, which management reduced to €259 million by counting €240 million of a €475 million government bailout as capital. The company has less than four months, until December 31, due to an extended accounting moratorium, to achieve positive equity and avoid dissolution. The Hidalgos' proposal to convert €235 million of state aid into a participatory loan, which would effectively nationalize part of the company, was rejected by SEPI to avoid scrutiny over judicially investigated ties with Begoña Gómez. To avert bankruptcy, the Hidalgos aim for a capital raise around €200 million. They must repay the state rescue funds by November 2026, challenging with total debt at €700 million.

💥 On July 24, in Kathmandu, Nepal, a Bombardier CRJ 900 plane crashed while attempting takeoff, resulting in the death of all 18 passengers, who were employees of the airline. A preliminary report by Nepal's air safety authority blamed the crash on the pilot entering incorrect data into the aircraft's computer, specifically erroneous speeds and weight, leading to loss of lift. The plane, with a weight of 18,500 kg, required different takeoff speeds to be inputted into the computer. The report also faulted the regulator for not adequately overseeing takeoff procedures. The flight permission was granted without proper checks and was incomplete.

✈ Russians are becoming accustomed to living in wartime, leading to an increase in travel. However, Russia's aerospace industry struggles with servicing aircraft in development due to sanctions. Despite this, Rossiya Airlines, part of Aeroflot Group, revived a Boeing 747 400 from storage to fly in the Sakhalin region. On August 30 and 31 and September 1, the airline conducted flights to Yuzhno-Sakhalinsk to transport vacationers. The aircraft, registration RA-73286 with a 522-passenger capacity in a single class, had been grounded for nearly two years since its last flight between Moscow and Sochi. Western sanctions on spare parts impact Russian aviation maintenance.

🚀 The Spanish Air Force has fully operationalized one of three A330s purchased from Iberia, after a major transformation into an A330 MRTT (Multi-Role Tanker Transport). This aircraft arrived at Getafe Aerodrome from Malta on September 2, where it was painted in low-visibility gray. Airbus Defence and Space acquired three A330s from IAG's Iberia in November 2021, including ground equipment for handling services, along with pilot, cabin crew, and maintenance technician training.

✈ Ryanair and other low-cost airlines are the most used in Europe and Spain, even on competitive routes like Madrid-Canaries, Madrid-Balearics, Madrid-London, and Madrid-Berlin. Despite complaints about poor service and high prices, these airlines are growing and have taken 50% of the market from legacy airlines over the past 20 years, with Ryanair becoming the leading airline in Spain.

🏠 Alterhome has partnered with Banco Sabadell to provide over €4 million in funding for the launch of 50 vacation rental franchises across Spain. This initiative aims to create over 600 direct jobs and support the professionalization of the Spanish tourism sector, which is the second-largest in Europe for short-stay rental bookings according to Eurostat. Financing options include commercial loans, renting, and credit policies to meet diverse franchisee needs. Chema González, CEO of Alterhome, highlights the importance of adapting to new regulations to ensure success in the evolving market.

🏦 Thomas Cook, after its 2019 bankruptcy, has been acquired by Polish group eSky from Fosun Tourism Group. The acquisition's cost is undisclosed, but CEO Alan French will continue to lead Thomas Cook, aiming to rebuild and grow the brand. eSky, with operations in over 50 countries and 800+ employees, reported over £18 million in profits in 2023, and this move aligns with their strategy to diversify from flight sales to vacation packages in Europe and Latin America.

📌 Gabriel Escarrer, CEO of Meliá and president of Exceltur, criticizes the Spanish government's distribution of Next Generation funds, and neglect of the tourism industry. Despite the sector's potential for modernization, the funds have favored government-friendly companies. Openchip & Software Technologies, with meager revenue, received €111 million and subsequently appointed Therese Jamaa, partner of Foreign Minister José Manuel Albares, as VP of Strategic Alliances. The appointment occurred one month after the fund's disbursement, although Openchip denies any influence from her relationship with Albares.

✈ Emirates' A380 thrilled rugby fans with a flypast over Ellis Park Stadium in Johannesburg, South Africa during a match between the Springboks and the All Blacks. This echoes a similar event from 1995 when a Boeing 747 from SAA surprised spectators with one of the first commercial aircraft flypasts at a sports event, as shared by user @jordibatlle.