Spain’s biggest airline, Iberia, is up for sale and the Texas Pacific Group (TPG) is interested in it. It could be joined in its bid by Lufthansa and British Airways. The deal could herald major structural changes that will alter the landscape of European airline industry. British Midland (BMI) could be taken over by BA and Virgin Atlantic, Alitalia could go to Aeroflot and Air Berlin could acquire Condor. Read more