Turkey’s national carrier Turkish Airlines has won approval from the Spanish government to buy a minority stake in Air Europa, in a deal valued at 300 million euros.
The planned investment would give Turkish Airlines between 25% and 27% of the Spanish airline, and completion is expected before the end of the year.
The move marks a significant step in Turkish Airlines’ bid to expand its footprint in Europe. Air Europa is one of Spain’s better-known carriers and the deal could strengthen ties between the two airlines if it closes as planned.
The investment is expected to add to Turkish Airlines’ international reach and give it a strategic position in a market where airline ownership and partnership deals remain closely watched by regulators.
Spanish approval removes a key hurdle for the transaction, but the agreement still needs to be finalised before any shares change hands. The size of the stake means Turkish Airlines would not take control of Air Europa, but it would become a major minority shareholder.
Airlines across Europe have pursued partnerships and equity deals in recent years as they seek to expand networks, improve connectivity and support financial stability. A transaction of this size can also help carriers coordinate routes, feed passengers into larger networks and compete more effectively on international services.
For Turkish Airlines, the deal fits a broader strategy of strengthening its position as a global airline. The company already operates one of the most extensive route networks in the world, and a stake in Air Europa would extend its influence further into the Spanish and wider European market.
The timing of the investment remains important. Officials expect the process to conclude before year end, suggesting both sides are aiming to move quickly after securing regulatory approval.
If completed, the agreement would be among the more notable airline investment deals in Europe this year. It would also give Air Europa access to a powerful new shareholder at a time when the sector continues to focus on consolidation, capacity and long-haul growth.
