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Iberia said on Thursday it had a new takeover approach from Gala Capital with a value of up to 3.7 billion euros ($5.4 billion), rivalling a long-awaited bid led by private equity group TPG.

In a statement, the Spanish airline said Basque savings bank BBK and the chairman of Air Europa were part of the bidding consortium, which would offer 3.6-3.9 euros a share.

Iberia shares jumped on the news and at 11:16 GMT were up 4 percent at 3.63 euros. They were then suspended from trade.

source: Reuters

Germany’s biggest airline Lufthansa on Friday denied Spanish press reports that it was preparing a takeover bid for Spanish national carrier Iberia.

“‘This is not true. We deny it,'” a Lufthansa spokesman told AFP.

The takeover speculation was sparked by a quote in the Spanish press from a Lufthansa executive, Aage Duenhaupt, saying that Lufthansa believed three euros per share was a “‘very interesting price.'”

But the Lufthansa spokesman said there had been “‘a misunderstanding'”.

Iberia has been looking for a commercial partner since March.

source: Yahoo!

With reports that Iberia are planning to cut their flights to Gibraltar, an Iberia told that no final decisions have been taken, but added that flights to Gibraltar were under review.

It is well known that the Spanish airline is unhappy with the business on the Gibraltar route. It is not what was expected.

The route was launched with much trumpet-blowing, but it has gone from one problem to the next.

Air France-KLM is looking to buy a 49 pct stake in Iberia Lineas Aereas de Espana SA, while potential Spanish partners Juan Abello’s Torreal investment vehicle and the Lara family’s Grupo Planeta would take the remaining 51 pct, Expansion reported, citing unnamed sector sources close to the process.

Air France plans to operate the Spanish flagship as an individual airline, while looking for as many synergies as possible with the French-Dutch air carriers.

source: hemscott.com

Air France KLM said it is looking at the possibility of a tie-up with Spanish airline Iberia, which is already a takeover target.

Air France KLM could team up with private equity company Apax in a consortium that was ready to bid 3.8 billion euros ($5.24 billion) for Iberia.

Air France KLM, the world’s biggest airline in terms of revenue, repeated it intended to play an active role in the consolidation of the airline industry.
source: Reuters

British Airways is in negotiations with private equity about a potential €5bn (£3.39bn) takeover offer for Iberia but has ruled out making a solo bid for the Spanish flag-carrier.

It is understood that Apax Partners is one of three private equity houses in talks with BA and is negotiating to bring Spain’s Gestair on board. In an announcement to the Stock Exchange yesterday, BA said it was considering how to use its 10 per cent stake holding in Iberia after US private equity house Texas Pacific Group (TPG) made an indicative offer of €3.60 a share for the carrier last month. This valued the Spanish airline, whose shares have doubled in the past six months on the expectation of further consolidation in the sector, at €3.4bn.

source: independent.co.uk

British Airways (BA) is considering forming a consortium to launch a takeover bid for Iberia, the Spanish flag-carrier in which it has a 10 per cent stake.

The British airline said this morning that it had held talks with a string of private equity companies over the possible creation of a bidding vehicle.

source: Times online

German airline Deutsche Lufthansa AG has shown renewed interest in Spanish carrier Iberia and may make an offer this month, according to a German weekly, WirtschaftsWoche.

The German company declined to comment on the report saying it has nothing more than its previous comments — made by its chief executive Wolfgang Mayrhuber — that the Spanish carrier is of strategic interest, but it is too expensive.

source: earthtimes.org

Spanish airline Iberia Lineas Aereas de Espana SA has hired investment bank Goldman Sachs Group Inc has hired Merrill Lynch & Co Inc. to advise it on a possible bid, citing industry sources.

Separately, ABC reports Deutsche Lufthansa AG has hired Merrill Lynch & Co Inc.  to advise it on a possible bid, citing industry sources.

source: Market Watch

Spanish carrier Iberia is increasing its presence at New York JFK. Air Transport World writes the carrier will boost its service between New York JFK and Madrid “‘to 14-times-weekly from 10 beginning March 25. It also will begin using A340-600s on the route, raising overall capacity 68 percent compared to the winter season.'”

source: Delaware Online