Ávoris, the Barceló-owned tourism group that controls Iberojet, has opened preliminary discussions to take control of Spanish airline Plus Ultra. The potential transaction would give Iberojet access to Plus Ultra’s fleet of seven Airbus A330s, increasing its long-haul capacity and supporting a more unified fleet strategy. No agreement or defined deal structure has been reached.
The talks have reportedly been under way for several weeks and follow an earlier approach by Ávoris that was suspended. The initiative comes from Ávoris, which has also contacted Spain’s state holding company SEPI, provider of €53 million in pandemic-era financial support to Plus Ultra.
SEPI is understood to view a sale favourably because a transaction could provide a route to recovering the state-backed funds. The proximity of Spain’s 29 November general election could nevertheless delay progress. Plus Ultra has also considered other potential investors, while its financial position remains under scrutiny.
The discussions concern a possible acquisition or control transaction rather than a completed takeover. Reporting does not establish the purchase price, ownership structure, timetable, regulatory approvals or whether Plus Ultra’s brand and operating certificate would be retained. Iberojet itself received €320 million through Ávoris in 2021; that aid was repaid in 2022 after Barceló took full control of the group.