BA parent IAG to buy Air Portugal?
09.05.11
British Airways’ parent company IAG is reported to be planning a bid for Portugal’s national flag-carrier TAP Air Portugal, according to a report in The Sunday Times. TAP has been 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 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 IAG’s ‘wish list’ but they are reported to include airlines such as BMI and Finnair.
IAG could face competition from other major airline groups such as 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 it and Iberia's overlapping routes to South America.
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