Earlier this month, Simple Flying reported that Turkish Airlines had become the sole bidder for Mallorca-based Air Europa after other European carriers stepped aside. Now, the Turkish flag carrier has confirmed that its offer to acquire a minority stake in the Spanish airline has been accepted.

Air Europa has faced heavy debt in recent years and has made several attempts to secure new investment. Multiple European airline groups expressed interest in taking a stake, but each attempt collapsed. That allowed Turkish Airlines to move forward alone with the goal of expanding its reach across Latin America and the Iberian Peninsula.

Turkish Airlines Confirms $349 Million Investment In Air Europa

Turkish Airlines first disclosed in June that it had entered non-binding talks over a possi

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