As had been expected, the merger of the travel agency operations of two of Majorca's giant tourism and travel groups - Barceló and Globalia - is to be postponed.
Avoris (Barceló) and Halcón Viajes (Globalia) are the main agencies at the centre of this planned merger. The proposal was presented to the National Markets and Competition Commission in March, immediately before the declaration of the state of alarm. The fact of there having been almost three months of business closure has complicated matters, including arriving at precise valuations. The decision has therefore been taken to postpone the merger until 2021.
This delay is a further blow to Globalia's strategy. The merger and the sale of Air Europa have both been affected by the crisis. Air Europa is due to be sold to IAG, subject to clearance from regulators. Prior to the crisis, it was anticipated that the sale wouldn't be effected until some time next year. Because of the crisis, there will be a revised valuation, the agreement having been 1,000 million euros.