Turkish Airlines in Talks to Invest in Air Europa
Turkish Airlines has confirmed it is engaged in preliminary talks regarding a potential investment in Spanish carrier Air Europa. The airline disclosed in a June 20, 2025, financial filing that it is holding “non-binding discussions” to explore the possibility of acquiring shares in the Madrid-based airline, adding to the growing list of European carriers eyeing a stake.
The announcement followed a Reuters report that revealed Turkish Airlines was considering a minority investment in Air Europa. In response, Turkish Airlines issued a statement to its investors noting that it “continuously evaluates growth opportunities to strengthen its position in the global aviation industry and enhance its competitiveness in the market.” The filing also noted the intent to explore potential partnership synergies through this opportunity.
If a deal materializes, Turkish Airlines would join the ranks of Lufthansa Group and Air France-KLM, both of which have reportedly expressed serious interest in acquiring stakes in Air Europa. The competition to partner with the Spanish airline has intensified as the European aviation landscape continues to consolidate.
In March 2025, Air France-KLM reportedly offered €300 million (approximately $330 million) to acquire a 51% controlling stake in Air Europa. Separately, Lufthansa Group was said to have proposed a €240 million ($264 million) investment for a 25% share in the airline. These offers underscore the strategic value that Air Europa holds in terms of access to the Spanish and Latin American markets, along with increased connectivity through Madrid-Barajas Airport.
Air Europa is currently controlled by the Hidalgo family through their Globalia travel group, which remains the largest shareholder. The airline, which has faced financial challenges in recent years, is seen as a valuable partner due to its strong transatlantic routes and strategic geographic positioning.
According to sources cited by Reuters, interested parties are expected to submit binding offers by July 2025, suggesting a competitive bidding process is now underway. The outcome could reshape airline alliances and competitive dynamics across Europe and Latin America, depending on which carrier secures the deal.
This potential investment aligns with Turkish Airlines’ broader global strategy of expansion and partnership development. With a rapidly growing fleet and one of the world’s most extensive route networks, Turkish Airlines is looking to bolster its influence in key markets beyond its Istanbul hub.
While no binding agreement has been reached, the confirmation of interest from Turkish Airlines marks another step in the ongoing strategic tug-of-war over Air Europa. The coming weeks are likely to be crucial in determining the airline’s future ownership and operational direction.
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