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International Airlines Group (IAG), the company formed from the merger of Iberia and British Airways, has hired US bank JP Morgan to advise on an offer for Portuguese airline TAP, according to reports in the British financial press.

The reports note that this agreement could help IAG improve earnings in expanding markets, as per plans outlined by company president Willie Walsh in an interview with a news agency in August.

source: sharecast.com

British Airways’ parent International Airlines Group (IAG) has a potential rival in bidding for TAP Portugal, with Brazilian carrier TAM considering a takeover of the Portuguese carrier.

TAP is a member of the Lufthansa-led Star Alliance, as is TAM, while BA is a leading member of the rival alliance Oneworld. However, TAM is awaiting regulatory approval for a merger with Latin America’s other major carrier, LAN – a Oneworld member.

source: travelweekly.co.uk