The former president of El Corte Inglés, Jesús Nuño de la Rosa, will be the new CEO of Air Europa | Economy

Air Europa will appoint Jesús Nuño de la Rosa, who was president of El Corte Inglés, as the company’s new CEO, replacing Valentín Lago. De la Rosa worked for years as general director of Viajes El Corte Inglés, a group in which he remained for more than 30 years. In 2018 he was appointed president of the chain, after the dismissal of Dimas Gimeno, and remained at the head of the group until the election as president of Marta Álvarez Guil. He was later appointed CEO of the company together with Víctor del Pozo, and president of four subsidiaries, positions that he resigned in January 2020.

The appointment is made by mutual agreement between Air Europa and the State Industrial Holding Company (SEPI), and will be approved by the Board of Directors of Air Europa after authorization from the Solvency Support Fund for Strategic Companies, which authorized aid to the company in November 2020 with 475 million euros.

“The new CEO joins Air Europa at a decisive moment for the future of the company, after the agreement with Iberia, which has formalized a convertible loan of 100 million euros,” Globalia, the group that owns the company, said in a statement. Hidalgo family airline. “This operation recognizes the importance of Air Europa as a strategic company for the hub of Madrid and the Spanish tourism sector, essential for the Spanish economy”.

Air Europa is a member of the SkyTeam alliance, made up of 19 airlines that, for 19 years, have worked together as a global network providing services to more than 630 million passengers a year. Air Europa’s fleet is made up of 38 aircraft, whose average age does not exceed four years.

Iberia will acquire 20% of Air Europa before the end of 2022, after having received the green light from SEPI and from the creditor bank of the 100 million convertible loan granted by IAG, Iberia’s parent company, to Globalia. After this prior authorization, a period of six months now opens for the competition authorities of the countries where the airline operates —Spain, Germany and the United Kingdom— to give their approval. At the same time, Iberia is negotiating the authorizations to acquire 100% of the company.