Aer Lingus and British Airways owner IAG has confirmed it is interested in taking a stake in TAP Air Portugal, which is set to be partially privatised by the Portuguese Government.
IAG – which also owns Spanish carriers Iberia, Vueling and LEVEL – said it has submitted a statement of interest to the Portuguese authorities, but said “several terms would need to be addressed before IAG could propose an investment”.
Saying that, however, IAG added: “We believe TAP has significant potential within IAG…Our track record shows how we invest to strengthen our airlines, benefiting customers, employees, local economies and shareholders.”
IAG is up against Air France-KLM and Lufthansa in sniffing out the 49.9% holding Portugal is putting up for sale in its up-to-now State-owned flag carrier.
TAP – which was re-nationalised by Portugal’s Government, following the Covid meltdown – posted a third quarter profit of €126m last week.
The airline is active on the lucrative transatlantic link between Europe and South America, particularly Brazil – a route also catered for by IAG, via Iberia.
