International Airlines Group (IAG), the parent company of Iberia and British Airways, has submitted an expression of interest to acquire a minority stake in TAP. With this decision, it joins Air France-KLM and Deutsche Lufthansa in the selection process opened by the Portuguese government.
In a statement issued this Friday, IAG highlighted the potential of the Portuguese airline within its European group and emphasized that its decentralized model aligns with the official intention to preserve the strategic role of the Lisbon hub. The company also noted that there are still aspects that need to be clarified before moving towards a concrete investment proposal.
Established Presence in the Portuguese Market
The group already has operations in Portugal through British Airways, Iberia, Vueling, and Aer Lingus. These airlines connect Lisbon with multiple European and transatlantic destinations through hundreds of weekly flights. The incorporation of TAP would particularly strengthen the network to Brazil and Africa, regions where the Portuguese airline maintains a prominent position.
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Sale Process Details
The Portuguese government plans to sell 49.9% of TAP, reserving 5% of the shares for employees. The expression of interest is a preliminary step that defines the strategic logic, financial capacity, and potential conditions of each candidate, without yet representing a formal offer. The deadline for submitting these expressions is November 22.
IAG’s Acquisition Background
The company attempted to acquire Air Europa on two occasions but ultimately withdrew last year after concluding that regulatory objections made the operation unviable. This track record reflects the complexity of negotiations in the sector and the importance of having a favorable regulatory framework.
Competition in the Race for TAP
Air France-KLM was the first to officially express its interest in the Portuguese airline at the beginning of the week, followed by Lufthansa. With the entry of IAG, the competition for the minority stake intensifies, placing TAP at the center of the expansion strategy for major European airline groups.
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