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Air Europa bailout
Well, turns out that [URL=’https://www.reuters.com/article/health-coronavirus-spain-aireuropa/update-2-spain-approves-475-mln-euro-aid-package-for-air-europa-idINL8N2HP4NY’]Air Europa has been bailed out by the Spanish government[/URL], with a package amounting to 475M €. One of the conditions is that the government will have a say in the sale of UX to IB… and when you consider the fact that this aid package is almost as high as what IB was willing to buy UX for a couple of months ago without an extra 475M € worth of debt, you can’t help but wonder under what extreme circumstances the sale could take place.
For foreigners and frequent Spanish domestic travellers this should be good news as this should keep the Spanish market relatively competitive. That being said the bailout isn’t seen that well by many Spaniards, as the government has had multiple issues regarding financial aid to those affected by the current situation.