Turkish Airlines to Submit Binding Offer for Minority Stake in Air Europa Valued Near 1 Billion Euros

Deutsche Lufthansa AG has withdrawn from negotiations to acquire a stake in the Spanish airline Air Europa, leaving Turkish Airlines as the sole remaining bidder. Air France also exited the bidding process, and IAG SA was twice denied permission to purchase a holding in Air Europa. Turkish Airlines has expressed continued interest in acquiring a minority stake in Air Europa, emphasizing the complementary nature of Air Europa's network to its own. The airline is preparing to submit a binding offer soon, aiming to expand its presence in Europe as well as in overseas markets such as Latin America and the Caribbean. Air Europa is valued at nearly 1 billion euros, with IAG valuing its 20% share at approximately 191 million euros.