TAP Sale
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TAP Sale
I understand that TAP is awaiting approval for Privatisation from the Portuguese government.
If approved it is likely to happen in the summer.
Apparently TAM and Lufthansa are not interested and Willie Walsh at IAG says he is.
Although there could be another potential buyer.
Has anybody heard anything new or different ?
If approved it is likely to happen in the summer.
Apparently TAM and Lufthansa are not interested and Willie Walsh at IAG says he is.
Although there could be another potential buyer.
Has anybody heard anything new or different ?
Talk from Lisbon at a high level this week that IAG is not the only bidder - non specific references to a Brazilian bidder have been indicated. Google should throw something up
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I can imagine IAG will pull out all the stops on this one.
Access to South American routes via Portugal - which i imagine has room for growth with through traffic from Spain and UK.
Sews up the Iberian Penninsula in terms of owning Iberia already.
Cost saving opportunities London to Portugal and more importantly Spain to Portugal.
Nabs another airline from Star Alliance into Oneworld.
Complimentary fleet in TAP mainline to Iberia and BA Shorthaul from LHR
If you also look at the sharp increase in volumes of traffic UK to Brazil - they could feed a lot through Portugal onwards - its traffic thats on the up and up.
Access to South American routes via Portugal - which i imagine has room for growth with through traffic from Spain and UK.
Sews up the Iberian Penninsula in terms of owning Iberia already.
Cost saving opportunities London to Portugal and more importantly Spain to Portugal.
Nabs another airline from Star Alliance into Oneworld.
Complimentary fleet in TAP mainline to Iberia and BA Shorthaul from LHR
If you also look at the sharp increase in volumes of traffic UK to Brazil - they could feed a lot through Portugal onwards - its traffic thats on the up and up.
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Portugal's government has promised to privatize TAP, possibly this year, under the terms of a 78 billion euro ($102 billion) European Union/International Monetary Fund bailout.
International Airlines Group (IAG) (ICAG.L), formed by the merger of British Airways and Iberia, said in October it would look at TAP when the Portuguese government starts the formal sale process, its Brazilian routes being of particular interest.
"Besides IAG, others have shared with us their interest but, because they did so unofficially, we cannot name them," the TAP CEO said.
International Airlines Group (IAG) (ICAG.L), formed by the merger of British Airways and Iberia, said in October it would look at TAP when the Portuguese government starts the formal sale process, its Brazilian routes being of particular interest.
"Besides IAG, others have shared with us their interest but, because they did so unofficially, we cannot name them," the TAP CEO said.
LONDON – International Consolidated Airline Group SA (IAG.LN) Tuesday confirmed its interest in Portuguese airline TAP SGPS SA, which is being privatized by the government as part of its EUR78 billion international bailout.
IAG already indicated last year that it would be interested in TAP for its access to the Brazilian market, especially as it is one of the few remaining airlines ripe for consolidation in Europe.
"We are interested to learn more about the privatization process and await more details from the Portuguese government," a spokesman for IAG said.
IAG already indicated last year that it would be interested in TAP for its access to the Brazilian market, especially as it is one of the few remaining airlines ripe for consolidation in Europe.
"We are interested to learn more about the privatization process and await more details from the Portuguese government," a spokesman for IAG said.
