The Spanish government supports the ailing Air Europa with 475 million euros. The airline is also advised to restructure the company.
Air Europa is to be divided into three parts: Air Europa, Air Europa Holding and the low-coster called Air Europa Express. Each unit would have a five-person board of directors. Its members should be able to be appointed on the one hand by the previous owner Globalia and on the other hand by SEPI, an umbrella company in Spain for the administration of state-owned companies and investments. It is not known what Air Europa thinks of the proposal.
The airline probably has other problems, because the pandemic is troubling everyone involved. And the crisis will not be over with the government's aid package. That's why a sale is in the offing, the IAG would like to take over the carrier. But in a slimmed-down form. In plain language: Air Europa has to lay off employees. The management level is currently in consultation, and the result should be presented in two weeks, like the aviation portal Swiss Aviation reported. The union doesn't feel good about this.