AirFrance-KLM make a €300 million offer for majority stake in Spanish airline: report

AirFrance-KLM have made an offer of 300 million euros for a majority stake in the Spanish airline Air Europa. This was reported by the Spanish newspaper El Confidential and was based on information obtained from anonymous sources.According to the newspaper, AirFrance-KLM have offered to pay the money in cash to the Hidalgo family, who own most of the shares, in exchange for 51 percent of the shares.

The airline also reportedly offered to take over the airline’s debt sheet with the Spanish government. AirFrance-KLM refused to comment on the story when asked by ANP.

The report also claimed that Lufthansa have also made an offer. The German airline company wants to offer 240 million euros to own 25 percent of the company.

According to Luchtvaartnieuws, Lufthansa has long been considered the favorite to win the financial battle for Air Europa, with Air Europa even loaning Boeing 787 airplanes to Lufthansa’s subsidiary Brussels Airlines to test the cooperation between the two companies, but the AirFrance-KLM offer has now made the Hidalgo family reconsider what the best option is.

The Hidalgo family has been attempting to sell the airline for a longer time. Deals with British Airways and IAG have fallen through in the past.