Air France-KLM and Lufthansa submit binding offers for TAP stake¶
TAP owner Parpublica will have 30 days to assess the bids and submit a report to the Portuguese government.
Two of Europe’s largest airline groups have submitted binding offers to acquire a minority stake in TAP Air Portugal, as its privatisation moves into the final stages.
Air France-KLM and Lufthansa Group each disclosed their binding offers on 29 July, each outlining their plans for the Portuguese national carrier. Neither carrier revealed how much it was offering.
Air France-KLM is looking to acquire a 44.9-49.9% stake in TAP, positioning the carrier’s Lisbon base as the group’s “unique” hub in south Europe.
The addition of TAP into the Air France-KLM group would “expand connectivity” to key markets in the Americas and Africa. The Franco-Dutch airline group adds that TAP’s “leading position” to Brazil would be a “strong complement” to its existing network.
The group says that, should it be the successful bidder for TAP, Delta Air Lines – its transatlantic joint venture partner – would “promptly” negotiate with TAP on a strategic commercial agreement.
Air France-KLM also revealed plans to develop MRO capabilities in Portugal, including opening new MRO facilities in “key areas of Portugal”.
Lufthansa does not reveal how much of a stake it is looking to acquire in TAP, but stresses its “active” presence in the country.
In late June, the groupbroke groundon a new Lufthansa Technik MRO facility in Santa Maria de Feira, south of Porto, which is scheduled to be operational in 2028.
Like Air France-KLM, Lufthansa points out Lisbon’s position as a “strategically important” Atlantic hub, allowing the group to link Europe with regions like Latin America, Africa and North America.
Lufthansa also highlights its track record of “successfully” developing national carriers – Austrian Airlines, Brussels Airlines, ITA Airways and Swiss – “while preserving their national identities”. The group’s carriers are Star Alliance members alongside TAP.
The Portuguese government kicked off TAP’sprivatisationin 2025, looking to secure a strategic investor for a 44.9% stake in its national carrier.
Parpublica, Portugal’s state holding company, on 29 July confirmed it had received the binding offers from the two European airline groups. It will assess the bids and submit a report to the government within 30 days.Subscribe to gain access to all newsAlready have a subscription?Log in.Choose your subscriptionConsidering a corporate subscription?Contact usto find out more.
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- Air France-KLM
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