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IAG Opts Out of TAP Stake Bid as Rivals Move Forward
15 Articles
15 Articles
There are two groups in the privatization process: Air France-KLM and Lufthansa. Still, Erico Brillante Dias, MP leader of the PS, accused Luis Montenegro of being “centred in propaganda”.
The IAG air transport group, which includes Iberia and British Airways, among other airlines, has decided not to continue the process of reprivatization of the Portuguese company TAP.
IAG has decided not to continue the process of acquiring a minority shareholding by the Portuguese airline TAP by failing to submit a binding offer within the deadline of Thursday. Air France-KLM and Lufthansa do keep on offering their proposals to the Portuguese government, which in July approved the sale of 49.9% of the company's capital. Of that share, 44.9% is open to investors and 5% to employees. The remaining 51.1% will remain in the hand…
IAG will not enter the final battle by the Portuguese airline TAP. Yes, the Air France-KLM group and the German Lufthansa, which confirmed on this Thursday their interest in participating in the privatization of the Portuguese airline with non-binding offers. The Lisbon government, which owns 100% of the company, gave the deadline until this Thursday for applicants to enter the capital to submit their non-binding offers.The group owner of Iberia…
IAG, owner of Iberia and British Airways, announced that it did not submit a non-binding offer for TAP, thus withdrawing from the race. "After careful analysis, IAG decided that it would not be in the best interest of our shareholders to proceed with the acquisition of a stake in TAP, the Portuguese airline," an official source told Lusa. The content Iberia owner out of the race for TAP privatization first appeared on O MINHO.
A TAP Air Portugal plane prepares for takeoff at Lisbon Airport (Symbolic image) (Photo by HENRIQUE CASINHAS / AFP via Getty Images) Getty Images. IAG has withdrawn from the bidding to buy TAP Air Portugal. The company is abandoning the privatization process of the Portuguese airline, leaving Air France-KLM and Lufthansa as the only active competitors to acquire the Portuguese flag carrier. IAG justified its decision as "the best" to focus on "t…
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