IAG Just Threw Cold Water on Portugal's TAP Sale Plan
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Executives at International Consolidated Airlines Group (IAG) have expressed concerns over Portugal's plan to sell a 49.9% stake in TAP SA, as they prefer majority ownership to achieve significant margin improvements. IAG's CFO Nicholas Cadbury highlighted the need for control to execute operational changes and meet margin targets. Without a clear path to majority ownership, the investment case may be difficult to justify. IAG, along with Air France-KLM and Deutsche Lufthansa AG, has been cleared to submit non-binding offers for TAP.
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