Nombramientos

🛫 South aims to execute the agreed Employment Regulation File (ERE) to ensure the viability of Iberia's handling division, reducing the initial count of affected employees from 1,727 to 1,499. Negotiations continue with unions demanding better economic protection, and the deadline for agreement is the end of the month. The next meeting is scheduled for November 26. South, an IAG and Iberia entity, plans to complete the severance plan by December 31, 2026, impacting employees across roughly 30 airports including Madrid and Barcelona.

✈️ The air traffic controllers at Madrid-Barajas bid farewell to Iberia commander Ángel Espinel this week as he operated his last commercial flight before retiring, celebrating his decades-long aviation career. Having previously served in the Air Force (Wing 35 and 45 Group), Espinel is recognized for his professionalism and character. He is noted for his contagious smile, passion for gliding, interest in history books, and dedication to charitable work. During his last interaction, Espinel expressed his appreciation for the tower control team's often unheralded work, acknowledging the safety and confidence they provide to flight operations.

✈ Jeff Skiles, a pilot at American Airlines for 30 years, retires. Distinguished for co-piloting the Airbus 320 that landed on New York's Hudson River in 2009 after a bird strike. Skiles' final flight was from London Heathrow to Chicago as captain of a 787-9 Dreamliner. Despite less fame than Captain Chesley Sullenberger, Skiles gained official recognition for his role in the 2009 "Miracle on the Hudson". He purchased a ticket for his wife to join his last flight.

👤 Javier Hidalgo, ex CEO of Globalia, communicated with the President of the Senate, Pedro Rollán, providing his Los Angeles address, clarifying he's not fleeing and hasn't been officially summoned for the 'caso Koldo' Senate investigation. He informed the Spanish Consulate in LA about his situation after learning of his scheduled commission appearance on November 22. To ensure receipt, he will send a burofax to the Senate Presidency and aims to prove his availability, referencing a similar experience with the Audiencia Nacional last September.

🏖️ On November 19, Carlos Mazón, President of the Generalitat Valenciana, dismissed Nuria Montes as the regional Minister of Innovation, Industry, Trade and Tourism due to critiques over DANA management. Montes, who took office in 2023, will be succeeded by Marián Cano, Avecal's president since 2015. Blockchain technology, highlighted by Albert Pérez Llanos and Gian Franco Mercado, aims to enhance efficiency and transparency in tourism distribution through smart contracts. Miguel Reynés, CIO of Riu Hotels & Resorts, notes the integration of AI in urban hotel brands, emphasizing a balanced approach and attraction of tech-savvy talent.

📈 Cinven, CPPIB, and EQT, owners of HBX Group which includes Hotelbeds, plan to take the company public by June, offering a minority stake post-capital increase to cut debt. HBX's debt is five times its EBITDA, while public firms typically range between two and three times. Fiscal year October 2022 to September 2023 saw a 51% increase in revenue to €656 million and an EBITDA of €356 million, over 50% gross margin. The IPO could raise €750 to €1,250 million depending on market interest, attracting long-term investors like Vanguard, Fidelity, or BlackRock. Advisors for the IPO include Evercore, Bank of America, and others.

💰 HBX Group plans to go public in the first half of 2025, targeting a public offering amount between 750 million and 1.250 billion euros, with specific capital percentage yet to be determined. Throughout 2024, the company, backed by Cinven, EQT, and CPPIB, prepared for the IPO with internal changes, including appointing Xabier Zabala (COO), Javier Cabrerizo (CSTO), and Brendan Brennan (CFO) to its executive committee. Evercore serves as financial advisor, while Bank of America, Citi, and Morgan Stanley are global coordinators. The IPO will include both a public subscription offer (OPS) and a public sale offer (OPV), with final details under discussion with CNMV.

📌 Carlos Mazón, President of the Generalitat Valenciana, dismissed Nuria Montes from her position as counselor of Innovation, Industry, Commerce, and Tourism, appointing Marián Cano as her replacement. Cano has been the executive president of the Valencian Association of Footwear Entrepreneurs (Avecal) since 2015. Montes, who served as the general secretary of Hosbec from 1995 to 2023, faced criticism for insensitive remarks regarding the deceased's relatives during a morgue incident. She later apologized. Under her management, the Generalitat highlights the record number of tourist visits and spending achieved in 2024, the approval of the Tourist Housing Decree Law, and the removal of the tourist tax.

📝 Palladium Hotel Group, a founding member of the Federación Empresarial Hotelera de Ibiza y Formentera (Fehif), will leave the federation on December 31st due to disagreements with its approaches and lack of desired changes. Palladium's Jose Luis Benítez criticized the federation's work and direction, especially after the election of the new president, Maria Costa Roig. Two years ago, Palladium requested improvements, such as increased fees for better visibility, modernization, and communication enhancements. Despite their departure, Palladium wishes success to Fehif and doesn't rule out rejoining in the future if changes are implemented.

💰 Begoña Gómez, wife of the Spanish Prime Minister, faced 20 questions from the Popular Party (PP) during her appearance at the Madrid Assembly, focusing on her relationship with Javier Hidalgo, ex-CEO of Globalia, and her travel to Russia for the OMT summit in September 2019. The PP inquired about the funding of her chair at the Complutense University, potential business opportunities with Globalia, and the specifics of her meetings with Hidalgo and Víctor de Aldama. Gómez declined to answer all questions, and she is scheduled to appear in court again in the coming weeks related to her chair.