Spanish airline Iberia considers sale

Madrid based Spanish airline Iberia has reportedly hired investment bankers Goldman Sachs and Morgan Stanley in order to advise on a possible sale.
Iberia has seen itself rise to a prime target for takeover following a new transatlantic air services pact which is expected to bring with it consolidation of the European airline industry. It was announced in March by the Spanish airline that information would be provided to companies approaching them concerning possible tie-ups.

Reuters has reported that Iberia’s share price has risen to an all-time high amongst speculation that private equity firms or rival carriers were considering bids of up to €4 billion for the Spanish airline and its established long-haul flights to Latin America. After Spanish newspaper reports cited Lufthansa and British Airways as possible buyers, Iberia’s shares moved up 0.5 % at 3.9 Euros and It has been estimated by Portuguese broker BPI that an offer price for Iberia could stand above €4 per share and could even reach at least 44.4 in a potential fight for control situation.

There has also been speculation that private equity firm Texas Pacific Group was considering making an offer to purchase Iberia, whilst British Airways has confirmed it is keeping its options open concerning Iberia’s future.