SPAIN- Apax joins the competition for Iberia

Gestair has been a strategic partner of Iberia for years. It provides leasing services to the carrier via its subsidiary Audeli, as well as cargo transport through its division Cygnus Air.

Iberia is valued at over EUR 3.8bn. Prospective bidders include sector players British Airways and Lufthansa, already shareholders of the air carrier. So far, powerhouse Texas Pacific Group is the only official candidate for a possible takeover. TPG was denied access to the airline's books last week until it provides information about the Spanish parties backing its bid.

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• Southern Europe