There is currently just one indicative offer for Iberia from a consortium comprising US private equity firm
However, global private equity firm Apax Partners has long been mooted as a possible rival bidder, although the firm is understood to be unwilling to enter into a bidding war. A tie-up with Air France was previously reported in May, as were potential partnerships with KLM and Lufthansa. Air France has more recently been considered as another partner in the TPG/BA consortium.
Reports in the Spanish press today have also revived reports of interest from Spanish investment vehicle
Apax already has an interest in the Spanish airline sector through its minority stake in Vueling Airlines, although recent reports suggest that it is intends to divest its holding before making a play for Iberia.
Adam Durchslag