IAG and Lufthansa stay away from TAP sale

In a blow for the Portuguese government, both IAG and Lufthansa decided not to bid for TAP SGPS SA. This highlights the challenges the troubled country faces in getting what it sees as being the right price for TAP. IAG has been dragged down by the reorganisation of Iberia and now British Airways has significant problems with the loss of the Qantas JV and the possible loss of the AA JV. It is time for IAG to concentrate on shoring up its BA operations and reorganise the Iberia operation. Lufthansa is also preoccupied with managing its current course through these