Air Europa started in 1986 (registered in Spain as Air España SA and previously known as such) as part of the British ILG-Air Europe Group and 75% owned by Spanish banks. It originally had a similar livery to Air Europe but with Air Europa titles, aircraft were registered in Spain and flew holiday charters from Mediterranean resorts and European cities using Boeing 737-300 and Boeing 757. It was the first Spanish private company to operate national scheduled flights (besides charter flights which used to be its main business). When parent company ILG ceased trading in 1991 Air Europa continued profitably with a larger fleet of Boeing 737s and 757s. It signed a franchise agreement with Iberia in January 1998, but this has since been dissolved. It is now owned by Globalia Corporación Empresarial S.A. At the end of the 1990s Boeing 737-800 jets were introduced along with a new livery. In June 2005 it was announced among the four future associate members of SkyTeam alliance, due to join by 2006. However, the joining date was postponed, and it did not become a member until 1 September 2007. Air Europa was the parent company for Air Dominicana, the new flag carrier of the Dominican Republic, until bankruptcy was declared on 21 September 2009. Air Europa retired their last 767 on the 13 April 2012. They also operated as Air France between Valencia Airport and Charles de Gaulle Airport with daily Embraer 195 service.