Portugal's TAP Flies Back Into Black Amid Air France Interest [Barron's]
AIR FRANCE-KLM ADS (AFLYY)
NASDAQ:AMEX Investor Relations:
airfranceklm.com/en/contacting-investor-relations-department
Company Research
Source: Barrons
After losing money in the first half of the year, TAP reported a net profit of 125.9 million euros ($145 million) between July and September, as revenue rose 2.7 percent and interest costs fell. Advertisement - Scroll to Continue The uptick comes after Lisbon announced in September it was seeking a major international airline to buy most of the 49.9 percent stake in the carrier which it plans to privatize. Air France-KLM, Lufthansa as well as the IAG group that includes British Airways and Iberia have already expressed an interest, notably for TAP's links between Europe, Brazil and Portuguese-speaking Africa. Wednesday, an Air France spokesman said that "Air France-KLM has submitted today to Parpublica its Expression of Interest to participate in the privatisation process of TAP, ahead of the deadline of November 22nd. It demonstrates the strong interest of Air France-KLM in this process. We look forward to the next steps." The government in Lisbon has made maintaining rout
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