The Balearic Government will be closely monitoring the sale of 26% of Air Europa's shares to Turkish Airlines. The government's main concern is that the transaction does not have negative repercussions for either residents or workers and will be looking for all necessary guarantees to be made.
For the government, "guaranteeing connectivity in the Balearic Islands is essential".
The fact that Turkish Airlines is a relatively minor operator of flights to the islands makes the government believe that operations and connectivity will be unaffected. Even so, there could be consequences for the Llucmajor-based airline's workforce.
The sale is subject to Spanish Government approval and will take several months to finalise. It is unlikely to run up against challenges on competition grounds, as happened with the proposed takeover by Iberia (IAG).
The Hidalgo family, through the Globalia company of which Air Europa is a part, will retain a majority shareholding of 54%. IAG have a twenty per cent stake. The government views this majority shareholding as positive.