Go Back  PPRuNe Forums > PPRuNe Worldwide > Australia, New Zealand & the Pacific
Reload this Page >

Air France -KLM looks at Iberia

Australia, New Zealand & the Pacific Airline and RPT Rumours & News in Australia, enZed and the Pacific

Air France -KLM looks at Iberia

Old 17th Jul 2007, 10:19
  #1 (permalink)  
Registered User **
Thread Starter
 
Join Date: Aug 2005
Location: Sydney
Posts: 622
Air France -KLM looks at Iberia

PARIS (AFP) - Air France said Monday it was considering a tie-up with Spanish carrier Iberia among other options.

In a statement on its website it said such a move, "among others, was being examined with a view to consolidation, which is essential to the efficiency and the profitability in this sector of activity."

"In Europe Spain is one of the main markets and Iberia is an important player in air transport," it said.

It said the Air France-KLM "intends to participate actively in the process of consolidation of the air transport industry."

Earlier on Monday the Spanish business daily elEconomista reported that the investment fund Apax and Air France, allied with Spanish investors, were preparing a bid for Iberia.

The paper, citing sources close to the matter, said the French-led alliance would unveil its offer by the end of the month, challenging an overture from the TPG investment fund and British Airways.

It said the new bid would value Iberia at around 3.81 billion euros (5.2 billion dollars), or four euros a share. The preliminary TPG bid, announced in March and later joined by British Airways, is worth 3.60 euros a share or 3.4 billion euros.


elEconomista said that in the next few weeks, Apax and investors Jose Manuel Lara and Juan Abello would come forward with an "initial purchase proposal, which Air France will then join as the industrial partner."

The Iberia board of directors on Thursday said it would not provide TPG and British Airways with sensitive company information unless it made a firm offer for the airline.

Iberia, in which British Airways already has a 10 percent stake, said in March that it was open to a partnership with another carrier.



From this news item it looks like the Texas pacific Group really does like airlines.If this trend keeps up then within 10 years there will only be 3 company's in the world.

Mac bank
Texas Pacific Group
Microsoft (unless Mac bank buys them)

This will give GD the reason (excuse) to merge with someone else or another takeover.
RedTBar is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Thread Tools
Search this Thread

Contact Us Archive Advertising Cookie Policy Privacy Statement Terms of Service

Copyright 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.