The Government has approved a rescue for 320 million euros in charge of the rescue fund managed by the Sociedad Estatal de Participaciones Industriales (Sepi) to à ?? voris and Halcón Viajes, the travel agencies of Globalia and Barcelo. This is the fourth rescue approved by the Sepi and the third to a company in the tourism sector, after those of the airlines Air Europa and Plus Ultra.
The aid is divided into a participatory loan of 163 million and an ordinary loan of 157 million, according to has confirmed the Minister of Finance and Government spokesperson, MarÃa Jesús Montero, after the Council of Ministers.
Last week two were approved, the one for Duro Felguera and the one for Plus Ultra LÃneas AÃ © reas. The latter, in fact, has been quite controversial, since within the air sector the strategic character of this company is questioned, which barely has a handful of routes to Latin America and some 170,000 passengers in 2019.
That of Ãvoris and Halcon is justified because “the strategic character of Ãvoris is undeniable, and it is also a main actor for the Spanish economy in a sector such as tourism”, has said at the Montero press conference. The Secretary of State for Tourism, Fernando Valdà © s, stressed that “the Spanish economy needs the entire chain of tourism supply to be available for when travel restrictions are relaxed”.
Fusion
This rescue thus culminates the merger process of the companies, which will now operate under the name Ãvoris Corporación Empresarial. They agreed to their merger before the pandemic, shortly after Iberia announced the purchase of Air Europa, also of the Globalia group.
The operation had the approval of the National Markets and Competition Commission since last May, but it was suspended due to the pandemic and it was finally agreed last December. The purchase of Air Europa also took place after the Government authorized its rescue by Sepi.
Both companies they had borrowed 230 million from the rescue fund to deal with the impact the pandemic has had on your business. This request for aid was later increased to 320 million euros, as the blow has been greater than expected. It is, therefore, the second largest loan from this rescue fund, after Air Europa (475 million).
Leader in tourism
Both companies have a workforce of 6,000 employees (9.8% of the total in the tour operator and travel agency sector) and 1,500 travel agency points. They have a turnover of almost 4,000 million and, after the merger, they are the leading travel agency in Spain in terms of sales volume, ahead of Viajes El Corte Inglà © s, until now the leader.
Most of the companies that are using this public aid fund are from the tourism sector. It has also been requested in recent days by the Hesperia hotel chain (55 million) and the hotel company Room Mate, which two weeks ago requested aid of 53 million, among others.
The new company “was born in a position to lead and promote tourism, which is key in the economy of our country” and will be a group “leader in touring, retail, receptive and bank of beds, among other businesses”, has communicated the company.
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