BA parent IAG to bid for Air Portugal?
09.05.11
BA's parent company IAG is planning a bid for Portugal’s flag-carrier TAP Air Portugal, according to a report in the Sunday Times. TAP was put up for sale by the Portuguese government as a condition of its financial bailout by the European Union and International Monetary Fund.
IAG’s chief executive Willie Walsh said before BA merged with Iberia that he had drawn up a shortlist list of 12 potential airlines that could be acquired by the airline's new holding company. He has not publicly confirmed the names of the airlines on the list but they are reported to include TAP, BMI and Finnair.
IAG is likely to face competition from other major airline groups Lufthansa and Air France / KLM in the bidding process for TAP, which expected to start in the next few weeks. It could also trigger a European Commission probe, given TAP and Iberia's overlapping routes to South America.
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