My Account Menu

CAPA Login


Register to trial CAPA Membership!

Air Europa parent Globalia acquires Orbest Orizonia parent Orizonia Group

14-Dec-2012 12:48 PM

Air Europa parent company Globalia acquired (10-Dec-2012) 100% of the capital of Orizonia Group, parent company of Orbest Orizonia Airlines. The agreement includes Globalia's assumption of Orizonia's debt, as well as a EUR60 million capital injection, part of which will be disbursed immediately. The agreement follows the rejection by creditors of Grupo Barcel√≥'s bid for Orizonia. Globalia and Air Europa president Juan Jos√© Hidalgo said, "[This purchase] represents for us a unique opportunity we could not pass up." [more - original PR - Air Europa - Spanish] [more - original PR - Globalia - Spanish]