economy and politics

Air Europa boasts of "success in planning" and will close 2024 with 2,900 million in turnover, 6.3% more

Air Europa boasts of "success in planning" and will close 2024 with 2,900 million in turnover, 6.3% more

It will open new routes in America and is preparing for 2025 in which it hopes to once again increase its turnover after a “historic” 2024.

Dec. 16 () –

Air Europa Holdings and its subsidiaries plan to close 2024 with a turnover close to 2,900 million euros, which represents an increase of 6.3% compared to the previous year, as reported this Monday by the company, which expects this rate of growth. growth in 2025 and highlights that this data reflects “the success of the planning” that it has carried out in recent years.

In this line, the recent capital increase for an amount of 81 million euros approved on November 28, made up of 65 million from its parent company and 16 million from IAG, stood out.

As highlighted, the initial 65 million contributed by Globalia were already enough to “complete the end of the year with guarantees.” Specifically, this would prevent Air Europa from going into dissolution next year due to the deterioration of its net worth after the two-year moratorium approved by the Government in the pandemic expires.

However, it gave IAG the opportunity to join if it wanted to maintain the 20% of the company’s capital that it already held, acquired during the negotiations of the failed purchase. Thus, Iberia’s parent company announced its participation with 16 million euros so that its position would not be diluted, in an “exclusively financial” operation.

This, in the words of Air Europa, demonstrates IAG’s “confidence” in its management and “optimism towards the future prospects and profitability of the project”, which for the moment maintains its long-term expansion plans and compliance with all your commitments.

It must also work on reducing its leverage, since the airline received a loan of 475 million in 2020 from the Fund to Support the Solvency of Strategic Companies, managed by the State Society of Industrial Participations (SEPI), as well as an ICO loan from the banking of 141 million euros, already partially amortized.

ONE DOZEN MILLION PASSENGERS TRANSPORTED

Air Europa also closes 2024, a year that it describes as “historic”, with good figures in terms of passenger transport, exceeding 2023 data by 4.4% and reaching 12 million. In this context, it focuses on the good performance of the long haul, where it transported some 3.2 million passengers.

The results also include the impact on the business of the new Globalia Mantenimiento hangar at the Madrid-Barajas airport, since since it came into operation in the second quarter of the year it has allowed for a “notable” improvement in the management and availability of the fleet. in addition to providing important business opportunities by providing services to other companies.

CEO Jesús Nuño de la Rosa has highlighted that this year will be more “historic” than 2023 after improving operating figures in both passenger volume and occupancy to respond to a market that they expect to continue growing.

MORE FLEET BY 2025

In 2025, Air Europa will also expand its fleet, despite “the challenges the sector is going through”, especially delays in the delivery of aircraft.

Thus, the airline is already planning the next incorporation of three new Boeing 787 ‘Dreamliner’, to which it will add the first of the Boeing 737 MAX units that will operate on short and medium-haul routes.

On the other hand, Air Europa will open new routes and increase frequencies in America, a key market for the company due to its “strategic position in Barajas.”

However, he highlights that next year will be marked by challenges such as decarbonization and the EU’s obligation to incorporate 2% sustainable aviation fuel (SAF).

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