MADRID (Reuters) – Spanish airline Air Europa has hired adviser PJT Partners 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, 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)
