IAG could be interested in Portugal’s TAP
The CEO of IAG, owner of British Airways and Iberia, Luis Gallego, said Wednesday that the upcoming privatization of Portuguese airline TAP “could be interesting” for his company, depending on the conditions.
The Portuguese government is expected to approve on Thursday the legal framework for the privatization of state-owned airline TAP. The government has stated its intention to maintain a strategic stake in the company.
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“We are always open to having big companies, brands in our portfolio. We want to see the conditions of the privatization of TAP, we think it could be interesting for us,” Gallego told a conference in Lisbon. IAG also owns Aer Lingus, LEVEL and Vueling.
At least two other major global carriers, Lufthansa and Air France-KLM, have so far shown interest in TAP, Reuters reported.
TAP CEO Luis Rodrigues said at the same event that he expected Thursday to be a “great day” for the company: “I think the privatization is going to work out well,” as the airline expects to post positive results for the second year in a row, after posting a profit in 2022.
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