SEVILLE, Spain, Sept 17 (Reuters) - Turkish Airlines

Chairman Ahmet Bolat said on Wednesday that the flag carrier has

no intention of increasing its stake in Spain's Air Europa

beyond the minority share they are acquiring.

"We are not interested in owning Air Europa, we are

interested in working with Air Europa," Bolat said.

Speaking to reporters in Seville, Bolat also said other

bidders for Spain's Air Europa failed due to the business models

they proposed and that the deal has been approved by

International Airlines Group (IAG), which owns a 20% stake in

Air Europa.

Turkish Airlines will invest 300 million euro ($355.14

million) in convertible debt, equivalent to a 25-27% stake in

Air Europa, Bolat also said.

($1 = 0.8447 euros)