Investing.com -- Turkish Airlines is looking into making a bid for a minority stake in Spanish carrier Air Europa, joining other major airlines interested in the deal.
According to a Reuters report on Friday, binding bids for the stake are due by early July.
Air Europa, owned by the Hidalgo family’s Globalia holding company, has attracted attention from several major carriers. Air France KLM (OTC:AFLYY) and Lufthansa are also in discussions about purchasing a stake in the Spanish airline.
Turkish Airlines currently has a codeshare agreement with Air Europa, which generates more than 25% of its revenue from European operations.
