British Airways Owner IAG Bidding For Portugal's TAP [Barron's]
INTL CONSL AIRLNS S/ADR (ICAGY)
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Source: Barrons
"IAG confirms it has submitted a statement of interest to Parpublica, in line with the government's process for the part-privatisation of TAP," a spokesperson said in a statement to AFP, referring to the Portuguese state holding company that owns TAP. Advertisement - Scroll to Continue "Several terms would need to be addressed before IAG could propose an investment," the statement added. 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 privatise. TAP, which was was renationalised in 2020 to stem losses from the Covid-19 pandemic, is among the few remaining state-owned carriers in Europe, and is of interest to international airlines due to its routes to Brazil and Portuguese-speaking Africa. Alongside British Airways and Spanish carrier Iberia, IAG's portfolio includes Irish airline Aer Lingus and Spain's Vueling as well. Advertisement - Scroll to Continue Europe's leading ai
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