Air Europa hires PJT Partners to raise money to pay back debt (updated)

PJT Partners

21/01/2025 10:05

(Adds confirmation from Air Europa in first paragraph)
       MADRID, Jan 21 (Reuters) - Spanish airline Air Europa
has hired adviser PJT Partners  PJT.N  to raise cash through
debt, and possibly a capital increase, to pay back debt owed to
the government, a spokesperson for the airline said on Tuesday.
    The airline, which is 20%-owned by British Airways owner IAG
Group  ICAG.L , is seeking funds to pay an outstanding package
of loans worth a total 475 million euros ($491.77 million)
granted by the government during the pandemic, the spokesperson
said, confirming an earlier report by Spanish news website El
Confidencial.
        The spokesperson said no decision had been made on
whether the operation would include debt, equity or both, nor
their respective amounts.    
    PJT Partners did not immediately respond to requests seeking
comment.
    ($1 = 0.9659 euros)

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