IAG enters bidding for TAP Air Portugal privatization

Lisbon [Portugal], November 22: The International Airlines Group (IAG), parent company of British Airways and Iberia, formally submitted Friday its interest in participating in TAP Air Portugal's reprivatization, delivering a letter to Parpublica, Portugal's state holding company.
The Portuguese government plans to sell up to 44.9 percent of the flag carrier's share capital, with 5 percent reserved for employees, in line with the country's Privatisation Law.
Air France-KLM lodged an expression of interest in TAP's reprivatization on Tuesday, while German airline group Lufthansa did so on Thursday. The deadline for submissions is this Saturday.
Source: Xinhua News Agency