Spain’s CNMC Launches Inquiry into Abra Group’s Acquisition of Wamos Air

Spain’s securities regulator, the Comisión Nacional de los Mercados y la Competencia (CNMC), has officially commenced the first phase of an inquiry into Abra Group’s proposed acquisition of charter airline Wamos Air. The inquiry follows a notification received by the CNMC on July 11, marking the beginning of a thorough review process expected to last up to one month for this initial phase.

Abra Group, a UK-based holding company that owns Avianca Airlines and GOL Linhas Aéreas Inteligentes, has proposed a significant investment of EUR 130 million (approximately USD 141 million) into Wamos Air, headquartered at Madrid Barajas Airport. This strategic move aims to bolster Abra’s presence in the aviation sector by integrating Wamos Air’s operations, which currently include a fleet of twelve aircraft featuring five A330-200s and seven A330-300s.

The CNMC’s review could extend to a second phase, requiring up to four additional months of analysis if more detailed investigation is deemed necessary, according to a report by Forbes España. This extended review would delve deeper into the competitive impacts and regulatory concerns surrounding the acquisition.

Additionally, the approval of this acquisition could trigger an accelerated repayment of Covid-19 related loans previously obtained by Wamos Air, as reported by ch-aviation. The decision by Spain’s CNMC will play a crucial role in determining the future landscape of airline operations and competition within the region.

Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com, Abra Group