IAG Group, owner of British Airways and Iberia, maintains the possibility of submitting a proposal for the privatisation of TAP until early April and has not confirmed any final decision regarding its participation. On Friday, Bloomberg reported that the group was inclined not to proceed with an offer, citing sources close to the matter, and IAG indicated that day that, “in accordance with the process, it has until April 2nd to submit an offer.” On Monday, an official company source reiterated this position to Lusa. According to sources cited by Bloomberg, IAG believes that Portugal's option to sell only a minority stake in the airline does not fit the group's strategy. The tender specifications provide for the sale of up to 44.9% of TAP's capital, with 5% reserved for employees. In addition to the owner of Iberia, Air France-KLM and Lufthansa have also expressed interest in the privatisation. Non-binding proposals must be submitted to Parpública by April 2nd and must include a financial component, such as the price offered for shares and future valuation mechanisms (earn-outs). Interested parties must also present industrial and strategic plans, synergies, and guarantees to preserve TAP's status as a European Union air carrier. IAG believes TAP could be successful within the group if the “terms are appropriate.”