Spanish operator Air Europa has named Richard Clark as the company’s new chief executive, succeeding Jesus Nuno de la Rosa.
Clark has had a long career with the airline, having joined in 1987, and is credited with strengthening the Madrid hub’s links with the Americas and solidifying Air Europa’s international position.
Air Europa says he has “strategic vision” and “deep understanding” of the business.
“Taking on this role is, for me, much more than a responsibility,” says Clark. “It is an honour and an opportunity to continue building the future of Air Europa.”
He ascends to the leadership of the airline as it undergoes substantial change.
Turkish Airlines is investing in Air Europa and is set to become a substantial minority shareholder in the company, with a stake of around 26%.
Air Europa has also disclosed that it is renewing its long-haul fleet – currently comprising Boeing 787s – with up to 40 Airbus A350s.
Turkish Airlines’ investment of some €300 million ($345 million) will provide funding to the carrier while the regulatory approval process continues.
Air Europa says this funding has helped pay off a €475 million loan – plus €97 million in interest – from the Spanish state industrial holding firm SEPI, which the airline needed to recover from the Covid-19 pandemic.
The airline’s board is to be restructured to reflect its new ownership.
Clark says the company aims to reinforce its Madrid operation as a “bridge between continents” with the support of its strategic partners.
