Bloomberg
• Henrique Almeida
Portugal has received improved binding offers from Air France-KLM and Lufthansa for a stake of up to 49.9% in TAP Air Portugal, closing the bidding phase. The government expects to select a strategic partner by mid-October, while Air France-KLM is positioning Lisbon as its sole southern European hub.
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Ontic is acquiring SIRS Navigation’s magnetic compass business, adding products used on legacy aircraft to its portfolio. The transaction is intended to preserve long-term availability and support for aging navigation equipment as operators and maintainers continue to rely on established platforms.
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Portugal has received improved binding offers from Air France-KLM and Lufthansa for a stake of up to 49.9% in TAP Air Portugal, closing the bidding phase. The government expects to select a strategic partner by mid-October, while Air France-KLM is positioning Lisbon as its sole southern European hub.
High activity
Spanish low-cost carrier Volotea has filed for preliminary creditor protection in Barcelona as it seeks to recapitalize amid sustained high jet-fuel prices. Its restructuring plan reportedly includes a significant reduction in its Airbus narrowbody fleet, job cuts in Barcelona and a potential transfer of control to Aegean Airlines.
euroAtlantic Airways is reportedly considering taking stakes in carriers in Cabo Verde, according to ch-aviation. The report points to a potential ownership or investment move involving airlines in the West African market, though available details do not specify targets, transaction structure or timing.
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Two separate aircraft transactions highlight continued investor activity in the secondary market: Avolon agreed to sell 33 leased Boeing and Airbus aircraft to Qatar’s Lesha Bank for $1.6 billion, while FTAI acquired 27 WestJet 737-700s, including jets intended for sale-leaseback and engine aftermarket activity.
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HAECO has secured airframe, engine and landing-gear agreements with ANA, JAL and Garuda, while GMF AeroAsia will perform heavy maintenance on AirZeta’s Boeing 747s from 2027 through 2030. Separately, AAR has agreed to acquire a majority stake in MRO Holdings for $1.8 billion, according to sources.
High activity
Avolon has agreed to sell Lesha Bank a portfolio of 33 commercial aircraft leased to 25 airlines, with management transferring to Lesha Aviation Services. The transaction will lift Lesha’s managed fleet beyond 75 aircraft and expand its Sharia-compliant leasing platform, while advancing Avolon’s asset-recycling strategy.
High activity
Asset manager Attestor will acquire the remaining 49% of Condor, taking full control of the German leisure carrier by August 2027. The transaction follows Condor’s early repayment of state-backed loans and consolidates ownership as the airline continues its post-restructuring strategy.
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