IAG’s Interest in Buying Portugal’s TAP Has Waned, Walsh Says

British Airways parent IAG said its interest in purchasing Portuguese carrier TAP SGPS SA has cooled after the addition of U.K.-based BMI brought sufficient airport slots to improve connectivity with Latin America.

“Our interest in TAP has waned,” Chief Executive Officer Willie Walsh said today in an interview in Brussels. While IAG, or International Consolidated Airlines Group SA, remains interested in acquisitions, there are none that appear suitable right now, he said.