Think you are right Smoketrails. This picture was published in June 2000 edition of Airliner World with the following ....
"Air Europa has unveiled a fresh corporate image with the delivery of its latest 737-85P. The aircraft, the seventh Series 800 for the airline, was delivered from Seattle via Gander on April 13. As is the tradition for delivery flights arriving in Palma, the aircraft performed a flypast along the length of Palma's runway 24R before landing, to be greeted by staff......"