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IAG interested in TAP Air Portugal

9-May-2011 1:30 PM

International Airlines Group (IAG), the holding company formed from the merger of British Airways and Iberia, is reportedly interested in bidding for TAP Portugal, which the Portuguese government is selling under the EUR78 billion bail-out plan formed with the EU and International Monetary Fund (AP/Reuters/Blomberg, 07-May-2011). IAG and TAP have reportedly held informal talks and an investment bank has been hired to conduct the sale process of TAP, which is understood to be commencing in summer. Lufthansa is also expected to make a bid for TAP Portugal.