TAP will be bought by BA owner IAG says the CEO of Ryanair
- Portugal Business News - Valerie Charoux
- Jan 19, 2023
- 1 min read
"TAP will finish up in BA-IAG,” predicts Michael O'Leary, the CEO of Ryanair. TAP, Portugal’s state-owned flag carrier airline, is targeted for an outright or partial sale by British Airways owner IAG, by Lufthansa and by Air France-KLM (AIRF.PA) according to Reuters on January 19th.
Bernstein analyst Alex Irving states that TAP is a prime target as: “This may be the next step in European airline consolidation.”
Reuters states that the Portuguese government, which owns TAP, has said that it is considering an outright or partial sale of the business.
German business daily Handelsblatt has reported that Lufthansa CEO, Carsten Spohr, mentioned at an internal company event that TAP could be an option for more long-haul business with South America. Reuters reports that German airline Lufthansa's (LHAG.DE) bid for a minority stake in Italy's ITA Airways has ignited talk of further potential sector consolidation as the industry seeks to plot a more profitable post-pandemic recovery. However, it could take months before the ITA Airways-Lufthansa deal is finalized, making it unlikely that Lufthansa will move ahead with further deals any time soon, a company source said.
#Lufthansa #AirFranceKLM #Reuters #Europeanairlineconsolidation #Handelsblatt #CarstenSpohr #portugalnews #portugalbusinessnews
