Air Europa bets on Boeing after signing an agreement to restructure its orders | Companies
Air Europa continues to trust in boeing to modernize its fleet and announced this morning a strategic alliance with the United States to extend a “long-term” relationship that dates back years. The Hidalgo family company has explained that it will unify its planes around Boeing models from next year.
It’s about a order restructuring pact in progress. The strengthening of the agreement with this manufacturer, the airline has indicated, “contributes to consolidating and improving Air Europa’s relationship with lessors From the marketas it represents firm support for the company’s project”.
The commitment is for the 787 Dreamliner for long-haul operations, of which Air Europe deck ask eight units next exercise, and by the 737 MAX to serve the short and medium haul. In both cases, Air Europa will be “the first Spanish airline to operate both models, which are a reference in technological innovation, comfort on board and efficiency in fuel consumption and emission reduction”.
Ricardo Caverovice president of Sales and Marketing of Boeing Commercial Airplanes for Europe, Israel and Turkey, has spoken of satisfaction for “the restructuring of 737 MAX and 787 Dreamliner orders. These new agreements will provide full flexibility to Air Europa to grow its operations in a sustainable way and increase seat capacity throughout its network to capitalize on the growing demand that we anticipate the transport sector will have in Spain in the coming years”.
Air Europa has recovered routes and frequencies, after the pandemic, with its main destinations around the world, especially in America. It currently has 47 planes whose average age barely reaches four years.
The second Spanish network airline has in its shareholding since last August 16 IAG, which converted a 100 million loan granted in March into 20% of the capital. After that, Globalia continues to be the controlling shareholder while the takeover of 100% of its airline by IAG and Iberia is negotiated.
The collapse of air traffic caused by the pandemic as of March 2020 plunged Air Europa into serious difficulties, which required a credit of 140 million guaranteed by the ICO and a ransom of 470 million granted by SEPI in November of that 2020. Its financial burden now exceeds 700 million, to which is added a tense relationship during the long months of health crisis with the fleet lessors.