TAP Air Portugal draws acquisition interest from Lufthansa, Air France-KLM, and IAG

Currently, TAP Air Portugal is the largest operator in the Europe-Brazil air sector. It has a significant lead, operating four times more flights than its nearest European competitor, Air France. In August alone, out of roughly 2,900 scheduled flights between Europe and Brazil, TAP Air Portugal will be responsible for 849 flights.

On the broader Europe-South American market, TAP falls behind Iberia, which holds a 16% market share compared to TAP's 14%.

All three major airline groups have expressed interest in investing in TAP Air Portugal. Their interest follows previous attempts to acquire Air Europa. IAG, which owns airlines like British Airways and Aer Lingus, aims to expand its influence in South America.

"We think that the model that we have at IAG is the right model to develop TAP," stated Luis Gallego, CEO of IAG.

Similarly, Air France-KLM believes that a partnership with TAP makes more strategic sense, opting to avoid a full merger to prevent antitrust issues.

"The discussions that took place last week were very positive from a political point of view," Air France-KLM commented.

Lufthansa has displayed interest in TAP, despite its current acquisition of Italy’s ITA Airways. The German airline has not ruled out a potential bid, maintaining its pursuit of European market expansion.

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