Albastar is an air transport company founded with the goal of providing on-demand transport services in collaboration with Spanish, Italian, and European tour operators based in Spain and Italy.
In 2014, it opened an operational base at Milan Malpensa Airport and has become a leader in connections to Lourdes. The company is a member of AIRE and the International Air Transport Association (IATA).
Its fleet consists of five Boeing 737-800 aircraft, connecting major European airports with holiday destinations through regular and charter flights of short and medium distance.
It offers customized solutions for leisure, business, and pilgrimage travel, and strives to meet the most rigorous safety standards and reduce CO2 emissions.
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PURCHASE
July, 2022
SECTOR
Air Transport
STATE
Invested
HEADQUARTERS
Palma de Mallorca
PARTICIPATION
Majority
ACQUIRED FROM
Ownership
REVENUE AT PURCHASE
€92,4M
NUMBER OF EMPLOYEES
200
INTERNATIONAL PRESENCE
Spain and Italy
FUND
SPECIAL SITUATIONS III COINVERSION FCR
Team
Fernando Aguado
Operating Partner
Juan Hornedo
Investment Director
One
to one
Commercial
Growth in high-priority markets with high profitability and implementation of a new commercial model.
People and Culture
Cultural transformation of the management team and reinforcement of critical areas.
Operations
Optimization of bases and crews and unprofitable businesses. Strengthening of operations and maintenance.
