after ITA (ex-Alitalia), Air France-KLM confirms that it is targeting TAP Air Portugal, which could be fully or partially privatized.
On the occasion of the publication of its quarterly results, Ben Smith, CEO of the Franco-Dutch company, indicated that he wanted “a partnership or an acquisition if the conditions are met” with the Portuguese national company.
“Favorite” Candidates
According to the manager, Air France-KLM has been looking for “opportunities in the Iberian Peninsula” for many years and recalls that consolidation “is essential for us, especially in Europe.”
Last September, it was the weekly Espressowhich referred to the discussions that had already taken place with Air France-KLM but also with Lufthansa, “favorite” candidates for this operation.
Always according to the Portuguese magazine, IAG (International Airlines Group), owner in particular of British Airways and Vueling, has also expressed “its interest”.
Remember that the Portuguese government should launch the reprivatization of the company before the end of the year, but nothing has been confirmed to date.
Let us remember that TAP Air Portugal, hit by the Covid-19 pandemic, had been urgently renationalized in 2020 through aid of 2,550 million euros from the Portuguese State. The European Commission I validated it in exchange for the application of a drastic restructuring plan.
In addition to staff reductions, TAP had to commit to freeing up slots at Lisbon airport as required by its competitors, including low-cost airline Ryanair.
In the second quarter, the company reduced its losses to 80.4 million euros compared to just over 128 million in the same period of 2021.
Source: BFM TV
