(Reuters) – Franco-Dutch airline Air France-KLM is in negotiations to acquire a 20% stake in Spanish carrier Air Europa, El Economista reported on Wednesday, citing unnamed sources.
The price of this participation would be higher than the 100 million euros that the parent company of British Airways, IAG, spent for a similar participation, we can read in the newspaper.
Air Europa, which belongs to the Spanish group Globalia, plans to raise funds via a capital increase.
In August, IAG abandoned its proposed takeover of Air Europa after the European Commission rejected the corrective measures presented by the group.
Contacted by Reuters, Air France-KLM said negotiations regarding commercial cooperation with Air Europa were underway as part of the Sky Team alliance but did not comment on the potential acquisition of a stake in the Spanish airline.
For its part, Globalia has confirmed an interest from Air France-KLM for a possible stake in the company.
“There is interest, but there is also interest from other airlines and other funds. Nothing is sealed,” Globalia said in an emailed statement to Reuters.
Air Europa was not immediately available to respond to a request for comment.
On the Paris Stock Exchange, Air France-KLM shares lost 1.65% to 7.36 euros around 10:06 GMT when the SBF 120 lost 0.98% at the same time.
(Written by Javi West Larrañaga, Pauline Foret and Mara Vîlcu, edited by Blandine Hénault)
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