Turkish Airlines is to submit a binding offer to take a minority stake in Spanish carrier Air Europa, having previously indicated interest last year.
The Star Alliance carrier has not given any further indication as to the size of the proposed investment.
But it says that the “complementary nature” of Turkish Airlines’ network and the “strong presence” of Air Europa would enable “scaled and accelerated growth” in the Latin American market.
Turkish Airlines adds that there is potential to “create a leverage effect” through new partnerships, revenue streams and operational diversity.
“Our company has resolved to submit a binding offer to Air Europa for a minority stake investment,” it states.
Feasibility evaluations have led the carrier to conclude that the proposed investment is “in line” with its long-term objectives under a business strategy running to 2033.
While Turkish Airlines is a member of Star Alliance, Air Europa is part of the rival SkyTeam group.
Air Europa has previously attracted tie-up interest from Oneworld-linked IAG and, more recently, reportedly from Air France-KLM and Lufthansa.
Source link
Turkish Airlines is to submit a binding offer to take a minority stake in Spanish carrier Air Europa, having previously indicated interest last year.
The Star Alliance carrier has not given any further indication as to the size of the proposed investment.
But it says that the “complementary nature” of Turkish Airlines’ network and the “strong presence” of Air Europa would enable “scaled and accelerated growth” in the Latin American market.
Turkish Airlines adds that there is potential to “create a leverage effect” through new partnerships, revenue streams and operational diversity.
“Our company has resolved to submit a binding offer to Air Europa for a minority stake investment,” it states.
Feasibility evaluations have led the carrier to conclude that the proposed investment is “in line” with its long-term objectives under a business strategy running to 2033.
While Turkish Airlines is a member of Star Alliance, Air Europa is part of the rival SkyTeam group.
Air Europa has previously attracted tie-up interest from Oneworld-linked IAG and, more recently, reportedly from Air France-KLM and Lufthansa.
Source link
Share This:
admin
Plan the perfect NYC Memorial Day weekend
Pack only what you need and avoid overpacking to streamline the check-in and security screening…
LA’s worst traffic areas and how to avoid them
Consider using alternative routes, such as Sepulveda Boulevard, which runs parallel to the 405 in…
Safran tasks new UK centre with electric and composite research for future single-aisle
French aerospace firm Safran is internationalising its technology research operation by setting up a centre…
Leonardo Helicopters’ Proteus technology demonstrator poised to make first flight for UK Royal Navy
Leonardo Helicopters has edged a step closer to flying its AW09-based Proteus technology demonstrator for…
Brazil test fires MBDA Meteor missiles from Gripen E fighter in major milestone
Brazil has notched a major milestone in its campaign to phase in Saab’s latest Gripen…
Aeroflot Group discloses acquisition of 747 and 737 freighters
Aeroflot Group has disclosed that eight aircraft – including freighters – have been introduced to…
Airbus cuts full-year delivery target by 30 aircraft
Airbus has cut its full-year delivery target to 790 commercial aircraft, down from the original…
Hi Fly claims Antarctic first with A330 follow-up to A340 landing
Portuguese wet-lease specialist Hi Fly has flown an Airbus A330-300 to Antarctica, claiming a first…
Austria to field 12-strong Leonardo M-346FA fleet from 2028 under $1.75 billion deal
Austria has finalised a roughly €1.5 billion ($1.75 billion) deal that will lead to its…
Avincis and DHC partner on CL-series waterbomber support
Aerial services provider Avincis is to collaborate with De Havilland Canada (DHC) on a series…
MBDA Meteor missile integration nears flight-test phase with Lockheed Martin’s stealthy F-35A
MBDA’s Meteor beyond-visual-range air-to-air missile has moved a step closer to commencing flight trials with…
Jekta hydrogen-electric amphibian aircraft scale model testing begins January 2024
Swiss start-up Jekta plans next month to begin flight testing a scale model of the…