Air Europa negotiates lease deferrals

Lessors are discussing new rent-deferral arrangements with Air Europa as the Spanish carrier navigates towards fresh state-backed financial support, sources have told Cirium. One lessor says it is negotiating a second deferral agreement with the airline, having had a first one in operation until December 2020. “We are looking to get at least the debt serviced, and [Air Europa parent] Globalia is looking to pay less,” the source says. Another lessor says that it is likewise in talks with Air Europa having received payments until December. Europa Press on 11 February reported Valentin Largo’s appointment as chief executive of Air Europa, saying it had been mutually agreed by SEPI – a state agency set up to support companies impacted by the pandemic – and Globalia. Largo has previously worked for Air Nostrum as well as IAG carriers Iberia Express and Vueling. A source says the appointment of a CE agreeable to SEPI was a condition for the agency to release a further E100m of funding to Air Europa, as part of a E475m state-backed loan agreed in November 2020.<br/>