Javier Hidalgo resigns as CEO of the Globalia Group

Javier Hidalgo, in August 2020, then still CEO of Globalia.

Javier Hidalgo leaves the Globalia Group. The manager, son of the company’s founder, Juan José Hidalgo, leaves the company that owns Air Europa and the Halcón Viajes y Viajes Ecuador travel agencies and the Be Live hotels, according to the group’s sources to EL PAÍS. This movement comes after the sale of the first to IAG (owner of Iberia) and the merger of the others with the Barceló group agencies. The departure of Hidalgo, advanced by Vozpópuli, comes after months in which the business suffered greatly from the coronavirus crisis.

Hidalgo’s resignation comes after several milestones. On the one hand, the Government has had to rescue the company with public aid. The solvency fund for strategic companies, which is managed by the Sociedad Estatal de Participaciones Industriales (SEPI), has entered both Air Europa and Avoris – the new travel agency that was created with the merger of Globalia and Barceló. And on the other, after the renegotiation of the conditions of the sale of the airline to IAG, which was closed for half of the agreement (500 million)

In a very difficult economic environment for the sector, these corporate movements, the recent appointment of Valentín Lago as the new CEO of the airline and the creation of Avoris left Hidalgo with little to manage in practice.

Air Europa will receive 475 million euros from the rescue fund to try to overcome the delicate situation for the company derived from the coronavirus crisis. For its part, the public injection approved for Avoris was 320 million.

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