General Industry

IAG's Interest In Portugal's TAP Depends On Privatisation Conditions - CEO

By Dave Simpson
IAG's Interest In Portugal's TAP Depends On Privatisation Conditions - CEO

Aer Lingus, British Airways and Iberia owner IAG may be interested in acquiring Portugal's state-owned airline TAP if conditions are right, its chief executive, Luis Gallego, said on Monday 26 June.

"Have To Look At The Other Conditions Under Which It Is Privatised"

"The TAP operation may make sense from a strategic point of view because of the Brazilian market, they are complementary... but we have to look at the other conditions under which it is privatised," Gallego said.

Possible Sell Month And Strategic Stake

The Portuguese government has said it wants to sell TAP as early as July, once the company's value is established, but intends to keep a strategic stake.

Carriers Showing Interest

At least three major global carriers - IAG, Lufthansa, Air France-KLM - have so far shown an interest.

IAG Open To Selling Some Madrid Slots To Ryanair

Separately, Gallego said IAG was open to selling some Madrid slots to Irish airline Ryanair as part of potential remedies to its acquisition of Air Europa.


Agreed To Buy Remaining 80% In Air Europa

IAG has agreed to buy the remaining 80% in Spanish carrier Air Europa it did not already own for 400 million euros ($435.96 million). The deal still needs antitrust clearance by the European Commission.

Ryanair Keen To Buy Any Madrid Slot Being Sold

Ryanair said earlier this month it was keen to buy any Madrid slot the EU Commission would force IAG to sell.

Read More: Ryanair Eyes Slots IAG May Hand Over As Remedies In Air Europa Purchase - Report

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