Reported about 3 hours ago
Turkish Airlines' unexpected acquisition of a stake in Spanish airline Air Europa has been attributed to its willingness to share control with the airline's current owners, unlike rival bidders Lufthansa and Air France-KLM, who sought greater control. Turkish Airlines plans to invest €300 million for a 25-27% stake, focusing on expanding its reach into key markets like Latin America. This deal represents a significant move by a non-European airline in a fragmented European market, highlighting Turkish Airlines' strategic approach to bolster connectivity despite its minority stake challenges.
Source: YAHOO