International Airlines Group (IAG) has reportedly reiterated its interest to the Portuguese government in acquiring a majority stake in TAP Air Portugal . The news comes five months after the airline group abandoned its plans to purchase Spain's Air Europa due to regulatory obstacles, ultimately making the deal unviable. Setting its sights on expansion According to a report by Lusa , interest in acquiring a majority stake in the Portuguese national airline has already been communicated to the government.
However, the completion of the deal will depend on the conditions set. Commenting on the news, IAG director Jonathan Sullivan was quoted as saying at a meeting with Portuguese journalists in Dublin, Ireland: "Over time, we would like to have a path towards a majority [position] because it would give the business the possibility to grow without the investment of other shareholders. We don't know if we'll participate, it depends on the conditions.
" TAP Air Portugal's primary market is focused on connecting Southern Europe with South America, particularly Brazil. The Portuguese carrier also serves various destinations in North America, Africa, and other parts of Europe, positioning itself as a key carrier for transatlantic and intercontinental routes. By acquiring a majority stake in TAP, IAG, the airline group already owning British Airways, Iberia, Vueling, and Aer Lingus, would increase its competitive edge in the transatlantic market connecting Europe with South America.
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