![Pinterest](https://pinterest.com/pin/create/button/?url=https://uknews.evprotec.com/british-airways-owners-iag-airlines-target-easyjet-for-takeover/&media=https://uknews.evprotec.com/wp-content/uploads/2022/11/0_Tourism-And-Commercial-Flying-Are-Up-During-Summer-In-Post-COVID-19-Era.jpg&description=EasyJet and Portuguese airline TAP are reportedly being eyed up by the International Consolidated Airlines Group, which owns British Airways, Iberia, Aer Lingus and VuelingThe British budget airline's stocks rallied after the takeover rumours were reportedEasyJet may be taken over by a huge aviation company forming a "European low-cost giant". The budget British airline is being eyed up by the International Consolidated Airlines Group (IAG), it has been reported. The consortium already owns British Airways, Iberia, Aer Lingus and Vueling, and is reportedly also considering a bid for Portuguese airline TAP. The Lisbon government is set to sell off the Portuguese flag carrier after it returned to profitability this summer, the Times reported. After the news was reported for the first time on Monday, shares in easyJet rallied significantly, and have now seen an 11% rise since last week. IAG is the owner of British Airways ( AFP via Getty Images) IAG was formed in January 2011 after a merger agreement between British Airways and Iberia, the flag carriers of the United Kingdom and Spain respectively. EasyJet has not had the smoothest of years, in terms of financial performance and the experience provided to customers. For the financial 12 months which ended on September 30, the company expects to make a pre-tax loss between £170million and £190million. While that is a significant sum, it is a lot less than the £1.14billion from the financial year before. Like the majority of airlines following a surge of holidaymakers and a shortage of staff, easyJet has also struggled to get all of its planes away on time - or at all - leaving some customers facing lengthy waits or even being stuck abroad. Last week Stephanie Cocks told The Mirror how she'd been stuck on the tarmac for five hours along with fellow easyJet passengers, only for the flight to eventually be cancelled. At the end of the wait a pregnant woman fainted, she claimed. Stephanie Cocks had a bad experience on an ea){kind=link}
EasyJet and Portuguese airline TAP are reportedly being eyed up by the International Consolidated Airlines Group, which owns British Airways, Iberia, Aer Lingus and Vueling
EasyJet may be taken over by a huge aviation company forming a “European low-cost giant”.
The budget British airline is being eyed up by the International Consolidated Airlines Group (IAG), it has been reported.
The consortium already owns British Airways, Iberia, Aer Lingus and Vueling, and is reportedly also considering a bid for Portuguese airline TAP.
The Lisbon government is set to sell off the Portuguese flag carrier after it returned to profitability this summer, the Times reported.