December 3, 2021

News Collective

Complete New Zealand News World

Air Europa bankruptcy is an option for the European Commission

Air Europa bankruptcy is an option for the European Commission

for his difficult condition

RR | Mexico | November 17, 2021

Leave a comment

Related topics: Air EuropaAnd European CommissionAnd Hidalgo’s familyAnd IAG مجموعة groupAnd Iberia

The European Commission is aware of the difficult financial situation that Air Europa is going through, which it has included in documents that are the airline’s bankruptcy option if the purchase is not terminated by Iberia.

But in addition to that, the Commission will imagine Air Europa will have to file for bankruptcy, so it wants to know what will happen to the airline’s assets, Expansión revealed. Similarly, Brussels will have to give its opinion on January 4 as it will decide whether to agree to sell Air Europa to IAG for €500 million added to the company’s debt, as mentioned. preferential.

However, expectations are that Air Europa is in the middle of two alternatives, one of which will be bankruptcy because its sale is increasingly far away or the state will step in and not lose 475 million euros from the bailout.

The company already has debts of nearly 800 million euros and will need more to accomplish during the year. Apparently, Hidalgo is in talks with Zapatero to get the government to help him if the purchase by Iberia fails.

As mentioned REPORTUR.comAir Europa, which two years ago operated a fleet of 50 planes, most of them less than four years old, but after the acute crisis has lost nearly a third to 35 planes, while Iberia waits to be rescued or the Spanish government can nationalize it to avoid bankruptcy. (Air Europa lost a third of its fleet and stayed on at 35 planes.)

See also  Nicaragua is taking its first steps on the road to electric mobility