Globalia Corporación says it will redevelop the recently acquired Aeronova (X5, Valencia Manises) into a budget carrier which will compete with Iberia (IB, Madrid Barajas) in the domestic and regional market.

The firm said in a statement that Aeronova, operating as Air Europa Express, will commence operations in March next year although its current fleet of one ATR42-300 and four Swearingen Aircraft SA-227 Metroliners will be replaced with a fleet of E195s sourced from parent Air Europa (UX, Palma de Mallorca). The transfer of the Embraer Regional Jets is expected to be complete by June 2016. Two bases will be established - at Madrid Barajas and Palma de Mallorca.

To avoid a clash, Air Europa Express will focus exclusively on short- and medium-haul operations leaving long-haul to Air Europa itself.

Globalia operated another airline of the same name - Air Europa Express (UX, Palma de Mallorca) - between 1997 and 2001. That operation specialized in services around the Balearic and Canary Islands using a fleet of ten BAe ATPs prior to its closure as part of an early-2000s restructuring plan.