Turkish Airlines (THYAO.IS) said on Monday that it has no current plans to invest in a foreign airline, after a Portuguese newspaper reported that the airline was interested in buying a controlling stake in Portugal’s ailing flag carrier TAP.
Citing diplomatic sources, Portuguese newspaper Negocios said on Monday that Turkish Airlines was interested in a controlling stake in TAP and could invest up to 1.9 billion euros ($2.14 billion), but would only start negotiations after Portugal’s snap general election, due to be held on Jan. 30.
“There are stories in certain national and international media outlets that Turkish Airlines will invest in a foreign airline company,” the airline said in a statement.
“However, the stories being published as of today do not reflect the truth. Our (company) does not have any initiative to invest in an international airline,” it said.
A spokesperson for Portugal’s Infrastructure Ministry, when asked if the government had been approached by Turkish Airlines about a possible investment in state-owned TAP, said the ministry was unaware of any interest:
“The Infrastructure Ministry does not have any information in this regard,” the spokesperson said.
