“If the terms are suitable, we believe TAP can succeed as part of IAG’s distinct and proven model,” stated a spokesperson from the group in a statement about the first half results, welcoming the announcement of the privatization process of TAP.
IAG, which includes British Airways, Iberia, Vueling, Aer Lingus, and Level, reported a profit of 1.3 billion euros up to June, an increase of 43.8% compared to last year’s 905 million euros.
The group stated that its financial strength enables it to modernize the fleet, invest in new-generation aircraft and essential products, and lead the sector in the adoption of Sustainable Aviation Fuel (SAF).
“The success of Aer Lingus since its integration into IAG in 2015 is a clear example of what can be achieved,” the group noted, highlighting that the Irish airline “strengthened its brand and more than doubled its long-haul capacity at the Dublin hub,” now reaching 20 destinations in North America, compared to just four before joining the group.
The TAP reprivatization process was formally initiated on July 10 with the approval by the Council of Ministers of the decree-law that sets the terms of the operation.
In the first phase, the state plans to sell, through direct sale, up to 49.9% of the national airline’s capital, with 5% allocated to its employees.
Besides IAG, the other two major European aviation groups – Lufthansa and Air France-KLM, have also expressed interest in the deal.
