In line with Smith, consolidation, the merging of a number of corporations, is crucial for Air France-KLM. “We’ve got been researching prospects within the Iberian Peninsula for a few years,” mentioned the CEO.
The German Lufthansa might also have an interest. That group was beforehand rejected for the acquisition of ITA. Then Lufthansa solely needed to get in for a majority stake. It’s not clear what half is out there from TAP, for which the Portuguese authorities is on the lookout for an celebration from the sector.
British Airways mother or father IAG seems to be a much less probably match for TAP, because the airline group already owns a number of Spanish competing carriers. CEO Luis Gallego additionally mentioned on Friday that he needs to get his fingers on the Spanish vacation flyer Air Europa as a substitute of the present 20 %.
Portuguese Infrastructure Minister Pedro Nuno Santos has indicated that TAP should merge with “a serious aviation group” to stay viable. The corporate suffered a lack of 1.6 billion euros final yr and the federal government supplied greater than 2.5 billion euros in assist through the corona disaster. Throughout an earlier sale, in 2015, not many European events had been . Then a majority went to a Brazilian consortium, however the group received out utterly through the corona pandemic. TAP is the biggest in Europe by way of connections with Brazil.
Air France-KLM can also be a part of a consortium led by funding firm Certares that’s negotiating completely with the Italian authorities for a majority stake in ITA Airways. If the Franco-Dutch aviation mixture joins forces with each TAP and ITA, Southern Europe will develop into a way more necessary marketplace for the corporate.