Lufthansa Withdraws From Air Europa Stake Acquisition; Turkish Airlines Preparing Offer; IAG Values Airline Near €1 Billion

Deutsche Lufthansa AG has officially abandoned its efforts to acquire a stake in Spain's Air Europa, leaving Turkish Airlines as the sole remaining bidder for the airline. Lufthansa's withdrawal follows the earlier exit of Air France from the bidding process and the rejection of IAG SA's attempts to purchase a holding in Air Europa. Turkish Airlines has expressed continued strong interest in acquiring Air Europa, citing the complementary nature of Air Europa's network with its own. The Turkish carrier is preparing a binding offer but has not yet reached the stage to submit it. Meanwhile, IAG values Air Europa at nearly 1 billion euros, with its existing 20% stake estimated at 191 million euros.