Portugal's TAP Air Sale: Government Wants to Retain Control Amidst International Interest

TAP Air Portugal's Situation

TAP Air Portugal remains one of the few independent airlines in Europe, attracting interest from major airline groups like Lufthansa, Air France-KLM, and the International Airlines Group (IAG). These groups see TAP as a strategic asset to enhance their networks in South America.

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Government's Stance

The Portuguese government is dissatisfied with the current offers, as it wishes to retain 51% ownership of TAP, ensuring that it maintains control over its operations and strategic direction.

IAG's Perspective

IAG has indicated that retaining a stake makes any acquisition unattractive. They have expressed that their buying strategy is aligned with enhancing their network value, rather than acquiring for the sake of it.

Other Stakeholders

While the Lufthansa Group and Air France-KLM have not publicly reacted to the government's position, they have historically been open to smaller stakes in partner airlines, which may affect their future strategies regarding TAP.

Interest from Potential Buyers

According to Infrastructure Minister Miguel Pinto Luz, around 12 parties have expressed interest in acquiring TAP, but the new government has yet to disclose a clear plan regarding the sale, leaving the future of TAP uncertain.

Conclusion

As the situation develops, TAP Air Portugal's ownership and strategic future remain pivotal topics in the European aviation market. The government's desire to keep a majority stake could complicate negotiations with interested buyers.