Air Europa airline

Air Europa, registered as Air España, S.A.U., is the third-largest airline in Spain. Founded in 1986, the carrier was originally established as a joint venture between the British International Leisure Group (ILG) and Spanish banks. Following the collapse of ILG in 1991, the airline was acquired by a group of investors led by Juan José Hidalgo and subsequently became the centerpiece of the Globalia tourism conglomerate.

Historically, Air Europa is recognized for breaking the domestic monopoly held by Iberia in Spain during the 1990s and becoming the first Spanish airline to operate the Boeing 787 Dreamliner. While the airline is headquartered in Llucmajor, Mallorca, and operates its main hub at Madrid-Barajas Airport, its ownership structure has seen significant shifts in the mid-2020s. After a multi-year acquisition attempt by International Airlines Group (IAG) was terminated due to regulatory hurdles in 2024, the airline secured its future through a strategic partnership with Turkish Airlines. By late 2025 and into 2026, the Hidalgo family (via Globalia) remains the majority owner, with Turkish Airlines holding a substantial minority stake and IAG retaining a smaller 20% shareholding.