The Spanish airline Air Europa has a new CEO in Valentín Lago. In the past, the manager held management positions at Air Nostrum, Iberia Express and Vueling, among others.

Owner Globalia and the state fund Sepi, through which the government is supporting the carrier due to the corona crisis, reached an agreement on Lago after several weeks of negotiations. The appointment is also a sign of the upcoming takeover by the International Airlines Group, because the manager is considered to be a long-time companion of IAG boss Luis Gallego, so that, according to the Spanish media, there is fundamental trust and a dismissal after the sale is not to be expected.

Globalia founder Juan José Hidalgo is currently performing the role of Air Europa CEO himself. In the course of state aid, the Sepi Fund has a say and can send two representatives to the supervisory board. There was a lengthy disagreement about the position of CEO, as Globalia braced itself against former Iberia managers proposed by Sepi.

After the takeover of Air Europa by the International Airlines Group, an integration into Iberia is planned. The approval of the EU Commission is still pending. Globalia and IAG expect the deal to be approved in the second half of 2021, subject to antitrust approval. The purchase price is only due in around six years, more details in this article.