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(MENAFN) Turkish Airlines announced Tuesday that its binding offer to invest €300 million ($349 million) in the Spanish airline Air Europa has been accepted, moving the deal into the documentation and official closing process.
The investment, largely in the form of a capital increase, involves acquiring a minority stake in Air Europa. Turkish Airlines said the move aims to strengthen its strategic position in global aviation, expand tourism markets in Latin America, and boost travel and cargo connections between Spain and Türkiye.
The precise percentage of the minority holding will be determined during the final technical and financial adjustments. The transaction is expected to conclude within six to 12 months, pending approvals from relevant regulatory authorities, Turkish Airlines stated.
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