Air France-KLM bids for 51% stake in Air Europa

Air France-KLM has made a bid to acquire a 51% stake in Air Europa for EUR 300 million, aiming to take control of the airline. This comes as Lufthansa also seeks to invest in Air Europa, offering EUR 240 million for a 25% stake. Globalia, Air Europa's owner, needs investment to repay a government loan from the COVID-19 pandemic. Air France-KLM has agreed to take on the debt, while Lufthansa's offer focuses on covering part of the loan. Both airlines are also competing for stakes in TAP Air Portugal, with Air France interested in a minority stake and Lufthansa aiming for 19.9%. The Portuguese government is looking to privatize TAP, attracting interest from multiple parties.