The Spanish Council of Ministers approved Turkish Airlines becoming a shareholder in Air Europa. THY will acquire 26.5 percent of the company for approximately 300 million euros.
A critical threshold has been crossed for the strategic Air Europa investment that will strengthen Turkish Airlines’ influence in the European aviation market. The Spanish Council of Ministers officially approved THY’s participation in the Air Europa shareholding structure.
Under the agreement, Turkish Airlines will acquire a 26.5 percent stake in the Spanish airline Air Europa for approximately 300 million euros. The decision is being regarded as one of the most notable strategic partnerships in the European aviation sector in recent years.
Spanish Government Gives Green Light to THY-Air Europa Deal
According to a statement released by Air Europa, the approval granted by the Spanish Council of Ministers came after the positive report prepared by the Board of Foreign Investments on May 19.
The report stated that Turkish Airlines’ investment complies with Spain’s foreign investment regulations.
Under Spanish legislation, government approval is required for acquisitions exceeding 10 percent in companies operating in sectors considered strategic.
Due to the 26.5 percent stake to be acquired by THY, the transaction was subjected to direct government review.
Air Europa Defined as a “Strategic Company”
Final Process Depends on European Union Approval
In its statement, Air Europa emphasized that the Spanish government officially recognized the company’s “strategic character” for the country’s economy.
The company stated:
“This decision is part of the administrative process established by the European Union for such operations and is a mandatory prerequisite for the final approval to be granted by the community authorities.”
Thus, an important stage of the process has been completed, while attention has now turned to the final assessment to be made by European Union institutions.
THY Expands Its Strength in Europe
Turkish Airlines’ investment in Air Europa is considered one of the most important steps in the company’s strategy to expand its network in Europe.
The strong position of Madrid-based Air Europa, particularly in Latin America and European connections, is seen as carrying strategic advantages for THY.
Experts believe that the partnership could:
- Strengthen Istanbul-based transit passenger networks,
- Create new opportunities in Europe–Latin America connections,
Provide THY with new access opportunities in markets outside Star Alliance.
Could Impact the Balance of European Aviation
Turkish Airlines becoming a shareholder in Air Europa is also being closely monitored in terms of competitive balances within the European aviation sector.
In recent years, global airlines have been reshaping their growth models through partnerships, acquisitions, and strategic investments, and THY’s move is considered one of the significant steps increasing the company’s international influence.
In particular, Madrid-Barajas Airport’s position as a critical connection hub between Europe and Latin America makes this partnership even more strategic.
