Spanair SA, a Spanish airline owned by Catalonian businessmen and in which the regional government has a stake, signed a deal through which Lazard Ltd. (LAZ) will help the airline find an investor, La Vanguardia reported.
Spanair, based in Barcelona, needs 150 million euros ($213 million) to become profitable and operate long-haul flights, the newspaper said, citing unidentified people close to the deal.
The potential investor could come from China or the Middle East since transactions with other airlines such as Deutsche Lufthansa AG (LHA), Singapore Airlines Ltd. (SIA) and Turk Hava Yollari (THYAO) AO, known as Turkish Airlines, have already been discounted, La Vanguardia said.
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