Air Europa, the airline based in Llucmajor, has finalized its agreement with Turkish Airlines, which will allow the Turkish carrier to acquire a stake in the Spanish airline through a €300 million investment, the company announced early this morning. The transaction has been structured as a convertible loan, which will be exchanged for a stake of approximately 26% in Air Europa, once all regulatory requirements are met, the airline explained. This deal values Air Europa, which is predominantly Spanish and family-owned, at around €1.175 billion, the company stated.