14-Dec-2012 12:48 PM

Air Europa parent Globalia acquires Orbest Orizonia parent Orizonia Group

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 Barceló's bid for Orizonia. Globalia and Air Europa president Juan José 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]