Skift Take
Air France-KLM found a "low-risk way" to participate in European airline consolidation with its SAS deal, even as it waits a bit longer for a chance at prize TAP Air Portugal.
Aviation investors will have to wait a little bit longer to get a piece of TAP Air Portugal. The carrier's long-awaited privatization is delayed up to a year following the recent sudden resignation of Portugal's prime minister.
Speaking at the Skift Global Forum East in Dubai on Wednesday, Air France-KLM CEO Ben Smith said the sale of state-owned TAP was postponed by 9-12 months due to the change in government. Group executives, including Smith, had previously expressed a keen interest in buying the airline multiple times.
TAP's Lisbon hub, which is close to Latin America and parts of Africa, is of interest to all three big European airline groups — Air France-KLM, International Ai