Air Europa hires PJT Partners to increase capital, raise debt, El Confidencial says

PJT Partners

21/01/2025 09:09

MADRID, Jan 21 (Reuters) - Spanish airline Air Europa
has hired adviser PJT Partners  PJT.N  to raise about 475
million euros ($492 million) in equity and debt, Spanish news
website El Confidencial reported on Tuesday, citing unidentified
industry sources.
    Air Europa's management is seeking to raise 240 million
euros ($248.6 million) in fresh equity and to raise 235 million
euros in debt to pay back an outstanding loan granted by the
government during the pandemic, the news website said.
    The airline, which is 20%-owned by British Airways owner IAG
Group  ICAG.L , could raise the equity through the sale of new
shares equivalent to up to a 20% stake, it added.
    Air Europa and PJT Partners did not immediately respond to
requests seeking comment.
    ($1 = 0.9654 euros)

 (Reporting by Inti Landauro and Andres Gonzalez; editing by
Charlie Devereux)
 ((Inti.Landauro@thomsonreuters.com;))