IAG hires JP Morgan as an advisor for TAP offer

5th Sep 2011 12:03

International Airlines Group, 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.IAG has shown interest in analysing the acquisition process on several occasions. It sees the acquisition of TAP as very attractive, the reports suggest.At 10:42am, IAG is doen 2.35% to 1.68 euros.M.D.