British Airways Owner IAG Joins Race for Stake in Portugal’s TAP

IAG SA, parent company of British Airways, has submitted its expression of interest in TAP SA, joining Air France-KLM and Deutsche Lufthansa AG in the bidding process for a minority stake in the Portuguese airline.

IAG says it sees significant potential for TAP within the European airline group, according to an emailed statement on Friday, and that its decentralized model aligns with the Portuguese government’s ambition to protect TAP’s Lisbon hub. IAG added that several issues still needed to be clarified before it can propose an investment.