Iberia Hires Banks to Advice Possible Sale

Spanish airline Iberia has hired investment banks Goldman Sachs and Morgan Stanley to advise it on a possible sale, people familiar with the situation said on Thursday.

Iberia’s share price has risen to all-time highs on speculation private equity firms or rival carriers were considering bids of up to €4 billion ($5.34 billion) for the Spanish flag carrier and its established long-haul business to Latin America.

An Iberia spokeswoman declined to comment on the matter on Thursday. Goldman Sachs and Morgan Stanley also declined to comment. Shares in the airline moved higher again last week after several Spanish newspaper reports cited Lufthansa and British Airways as possible buyers.

Earlier this week, people familiar with the matter said private equity firm Texas Pacific Group was considering making an offer to buy Iberia.

British Airways, which owns 10 percent of Iberia, also said it was keeping options open about the Madrid-based airline. Lufthansa declined to comment on the speculation on Thursday, but said it was keeping a close eye on proceedings.