Turkish Airlines Makes Compelling Bid to Acquire Air Europa

Turkish Airlines has officially announced its intention to submit a binding proposal to acquire the Spanish airline Air Europa.

This decision was outlined in a public disclosure statement released on Turkish Airlines’ website on August 8, 2025.

The Turkish airline emphasized the complementary nature of their networks, particularly highlighting Air Europa’s robust presence in the Latin American market. They believe that the combined strengths of the two carriers and their subsidiaries could create new opportunities for revenue generation.

Air Europa, which is privately owned, garnered interest from major European airline groups after a proposed acquisition by International Airlines Group (IAG) faced scrutiny from the European competition authorities.

Concerns arose within the European Commission that a merger with IAG’s Iberia, Air Europa’s primary competitor, could significantly hinder competition on crucial routes within Spain and between Spain and Latin America. Consequently, IAG decided to withdraw its bid for Air Europa, even though it controlled 20% of the airline’s capital. This withdrawal opened the door for other airline groups to express interest.

Air France-KLM made an offer for Air Europa but later withdrew. Likewise, Lufthansa explored the possibility of acquiring the Spanish airline but ultimately declined to make an offer in July 2025.

Prior to its latest proposal, Turkish Airlines had been performing due diligence on Air Europa and had expressed interest in the airline in a public statement dated June 20, 2025.

Initially established as a charter airline, Air Europa transitioned to scheduled air services following the liberalization of the European airline sector in the 1990s. It has since become Spain’s second-largest airline, with a network extending across Europe and Latin America.

In 2024, Air Europa successfully transported 12.2 million passengers. As of August 2025, it operates an all-Boeing fleet consisting of 46 aircraft, which includes 18 B787-9s, 10 B787-8s, 17 B737-800s, and one B737 MAX 8. Additionally, the airline is expecting delivery of five more B787-9s and 28 B737 MAX 8s.

Spain represents a key market for Turkish Airlines, which services five destinations across the country. According to Cirium SRS Analyzer, the Turkish flag carrier offers approximately 5,500 seats daily from its Istanbul hub to cities such as Barcelona (BCN), Madrid (MAD), Bilbao (BIO), Valencia (VLC), and Malaga (AGP).