Owner of Iberia out of the race to privatize TAP

With this decision, the race for the privatization of TAP will be between Air France-KLM and Lufthansa.

Last week, Bloomberg had reported that IAG might not move forward with a proposal because it considers that the option for Portugal to sell only a minority stake in the airline does not fit into the group’s strategy.

Information confirmed this Thursday by IAG: “We have always maintained that in any acquisition situation, we need a path to full ownership so that we can manage and transform the business.”

The specifications provide for the sale of up to 44.9% of TAP’s capital, with 5% reserved for workers, with any unsubscribed participation subject to the future buyer’s right of preference.